Greece Prepares to Tax Cryptocurrency Profits
Cryptocurrency has gained significant traction in Greece, particularly among individuals in their 30s.
However, the lack of a clear tax framework presents challenges for both investors and authorities. Currently, the Greek tax system does not officially recognize cryptocurrencies, creating complications for traders and the government alike.
To tackle this issue, a dedicated committee has been formed to devise a comprehensive tax strategy for crypto assets. The committee is set to present its recommendations to the Ministry of National Economy and Finance by September, with new tax regulations expected to be enforced by January 2025. These regulations will likely classify crypto profits as capital gains, subject to a 15% tax rate.
The committee’s focus is threefold: identifying and categorizing all types of cryptocurrencies, establishing a tax structure for these assets, and creating a system for monitoring and enforcing the new rules. Currently, the lack of regulation allows many investors to avoid reporting their crypto earnings, with some individuals using their gains to invest heavily in real estate without declaring their income.
READ MORE: South Korea Contemplates Crypto Tax Postponement Until 2028
Greece is also gearing up for the EU’s Markets in Crypto-Assets Regulation (MiCA), which will fully come into effect by July 2026. Until then, most crypto services in Greece remain largely unregulated, although companies dealing with fiat exchanges or crypto custody must register with the Hellenic Capital Market Commission (HCMC). During this transitional period, firms already registered can continue operations without full MiCA authorization.
Additionally, Greece has introduced some anti-money laundering measures for crypto service providers, including customer due diligence, maintaining a centralized register of beneficial owners, and appointing an AML Compliance Officer.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
