European Commission Warns 12 Member States Over Crypto Tax Reporting
The European Commission on Friday warned 12 member states that they have not fully implemented the bloc’s crypto tax reporting rules, a step meant to increase transparency around crypto transactions and income. The warnings focus on gaps in national transposition of the EU framework for reporting crypto assets and related taxable events, and come after repeated reminders and deadline extensions. This matters because incomplete implementation weakens cross-border tax enforcement and leaves crypto platforms and custodians with legal uncertainty. If governments fail to act, the Commission can open formal infringement procedures, raising the prospect of penalties and further regulatory pressure on exchanges and wallet providers. Market participants should expect tighter oversight and should review compliance processes as member states move to align with the new reporting regime.