EU To Force Crypto Companies To Report Their Users’ Holdings To Tax Authorities
In a statement, the EU Commissioner for tax, Paolo Gentiloni said, “Anonymity means that many crypto-asset users making significant profits fall under the radar of national tax authorities. This is not acceptable.”
The EU has said it believes the move could generate as much as $2.5 billion (2.4 billion euros) through the introduction of the directive.
Kerching!
EU to Make Crypto Companies Report Tax Details to Authorities
When asked how the EU will enforce the measures on companies outside the bloc, Gentiloni told reporters, “We will work on that [ed. lmfao!]. What counts for us is that EU residents are targeted by these measures,” even if they use crypto providers from elsewhere, he said.
They are learning from the USA - overreach until it hurts.
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