European Commission calls on 12 countries to implement crypto tax rules

The European Commission just dropped its January infringements package — and it's calling out 12 EU members for dragging their feet on crypto tax transparency. Belgium, Bulgaria, Czechia, Estonia, Greece, Spain, Cyprus, Luxembourg, Malta, Netherlands, Poland, and Portugal are all getting formal notices to implement the EU's tax reporting rules for digital assets.

Here's the deal: these countries have two months to respond and comply, or the commission might escalate with a 'reasoned opinion' — basically, the EU's version of 'we're not asking anymore.'

The directive requires crypto asset service providers to report user and transaction data to tackle tax fraud, evasion, and avoidance. It's aligned with the OECD's crypto framework — so this isn't just EU bureaucracy, it's global tax coordination hitting crypto.

In the same notice, Hungary got called out separately for failing to comply with MiCA (Markets in Crypto Assets). The commission says some crypto services have suspended or discontinued operations due to a Hungarian law amendment about 'exchange validation services.'

The EU's message: 'Hungary, we get you want stronger anti-money laundering safeguards, but those measures gotta stay compatible with MiCA.' Hungary also has two months to respond.

Remember: MiCA was passed in 2023, and requirements are being implemented in stages. Most crypto companies operating before December 2024 have until July 1, 2026 at the latest to comply fully — though some EU countries have shortened that window.

This isn't just about taxes — it's about the entire regulatory framework for crypto in Europe coming together. The EU is making moves to bring crypto into the mainstream financial system, whether the industry is ready or not.