EU to implement new crypto tax reporting rules on Jan 1

The European Union's new tax reporting directive, known as DAC8, will take effect on Jan. 1, CoinDesk reported. Under the new rules, crypto-asset service providers will be required to report detailed user and transaction data to their respective national tax authorities. The compliance deadline across the EU is July 1, 2026. DAC8 will be implemented alongside the EU's Markets in Crypto-Assets (MiCA) regulation, but the two are separate frameworks. MiCA governs market conduct, whereas DAC8 focuses on tax reporting. The directive also grants tax authorities the power to freeze or seize crypto assets related to unpaid taxes if they detect evasion, even if the assets or platform are located outside the user's home jurisdiction.