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MNI BRIEF:  EU Moves To Boost Tax Transparency On Crypto Transactions

(MNI) LONDON
(MNI) Brussels

The EU announced new steps Thursday as part of its digital tax package to force crypto asset service providers to report transactions by EU residents so that taxes are paid on all gains made from investing or trading in crypto assets.

“Our proposal will mean that member states get the information they need to ensure that taxes are paid for gains made in trading or investing in crypto-assets, as they would be for any other financial assets,” said EU Economy Commissioner Paolo Gentiloni.

The commissioner said that crypto-asset service providers – no matter their size or location - would be obliged to report the domestic or cross-border transactions of EU residents.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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