EU Commission Enforces Crypto Asset Regulation Compliance

The European Commission has intensified its enforcement of the regulatory framework for crypto assets. According to ChainCatcher, infringement procedures have been initiated against several member states for failing to implement or comply with new EU crypto asset tax and market rules. In the latest batch of infringement decisions, the Commission announced that formal notices have been sent to 12 member countries for not fully incorporating EU rules on crypto asset tax transparency and information exchange into their national laws. The countries involved are Belgium, Bulgaria, Czech Republic, Estonia, Greece, Spain, Cyprus, Luxembourg, Malta, Netherlands, Poland, and Portugal. This action pertains to EU Directive 2023/2226, which revises the EU's longstanding framework for administrative cooperation in taxation. The directive extends reporting and information-sharing obligations to crypto asset service providers to enhance tax transparency and regulation of crypto asset transactions.