Dutch Government Seeks Public Opinion on Cryptocurrency Tax Monitoring Law

The Dutch government has sought public opinion on a proposed law that would require crypto service providers, such as exchanges, to collect and share user data with local tax authorities — in line with EU rules. “The purpose of the bill is to increase transparency in cryptocurrency ownership and thereby prevent tax evasion and avoidance,” the Dutch Ministry of Finance said in a press release on Oct. 24. The Ministry added that “nothing will change” about the situation of crypto holders under the proposed rules, as they are already required to declare their crypto holdings to the country’s tax authorities. The new bill would enable tax authorities to share data collected by service providers about residents with their counterparts in other EU countries, in line with EU-wide crypto tax reporting rules adopted last year, known as DAC8. (Cointelegraph)