In their meeting held on 16 May 2023, the Economic and Financial Affairs Council (ECOFIN) agreed on a new Council Directive amending Directive 2011/16/EU on administrative cooperation in the field of taxation for the introduction of new transparency rules concerning crypto-asset transaction reporting (DAC8 Directive).
The DAC8 Directive requires all crypto-asset providers based in the EU to report transactions of clients residing in the EU. Further, the Directive has been extended in scop…