Netherlands Begins Consultation on Crypto Bill

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The Netherlands has initiated a consultation process for a proposed bill that would require crypto services to share user data with tax authorities, in accordance with the European Union’s DAC8 directive.

This directive aims to prevent tax evasion by requiring crypto service providers in the EU to collect and report data on their users, which will be exchanged between member states.

According to Folkert Idsinga, the state secretary for Taxation and Tax Authorities, the purpose of the bill is to increase transparency and combat tax avoidance.

The country is seeking feedback from stakeholders before submitting the bill to the House of Representatives by the first half of 2025. The consultation will end on November 21.