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Germany to collect crypto tax data directly from service providers


Germany to collect crypto tax data directly from service providers

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Germany's federal government now requires crypto service providers to submit tax-related user information to state authorities, obliging exchanges and other platforms to report taxable coin transactions to increase transparency. Reported data will be shared cross-border with EU and non-EU nations, raising compliance burdens for CEXs and DeFi providers and presenting privacy and operational risks for users and service providers.

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The federal government in Germany is now requiring crypto service providers to submit tax-related user information to the state. The data will be shared with other nations, both within the EU and beyond, to allegedly make taxable coin transactions more transparent. German authorities to receive tax reports from crypto platforms The executive power in Berlin...
Read the article at CryptoPolitan

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