Greece to launch crypto tax regulations next year

Cryptocurrency is becoming a big deal in Greece, especially among people in their 30s. Accountants and tax experts say more and more Greeks have seriously gotten into crypto, but there’s a huge problem. There’s no tax framework for it.

The tax authorities don’t even recognize cryptocurrencies, making it tough for both traders and the government. A special committee has been set up to take care of this issue. By September, the committee will present its findings to the Ministry of National Economy and Finance. 

These findings will guide the new tax regulations set to roll out in January 2025. Reportedly , crypto profits will be taxed as capital gains from the sale of securities at a rate of 15%.

The committee’s findings will cover three main areas. First, they’ll define and record all types of cryptocurrencies. This means figuring out exactly what counts as a cryptocurrency and making sure there’s a clear list.

Second, they’ll determine how these crypto assets will be taxed. And then finally, they’ll set up a process for monitoring and enforcing these new tax rules. Right now, many investors are exploiting the lack of regulation. At least that’s what the government claims.

Very few people actually make their crypto profits known, and those who do are often unemployed or have no income but have invested heavily into real estate.

This loophole lets them cover their living expenses without reporting their crypto earnings.

At the moment, Greece is in a transitional phase with crypto regulations. The country is preparing for the full implementation of the Markets in Crypto-Assets Regulation (MiCA) across the European Union.

Until December 30, crypto-related services in Greece are gonna operate mostly unregulated, with some exceptions.

Companies that exchange cryptocurrencies for fiat money or offer custody services for cryptocurrencies must register with the Hellenic Capital Market Commission (HCMC).

This is one of the few areas where some regulation exists, but it’s not comprehensive. There’s a transitional period from December 30 to July 1st, 2026.

During this time, firms already registered with the HCMC will continue providing services without full MiCA authorization. Whether Greece adopts this transitional measure will impact how businesses operate in the short term.

After July 1st, 2026, all crypto service providers must be fully authorized either in Greece or another EU member state. This means stricter oversight and compliance requirements for these businesses. Companies will need to get their act together to meet these new standards.

Greece has already implemented some anti-money laundering (AML) measures for the service providers. These include customer due diligence requirements, maintaining a centralized register of ultimate beneficial owners, and appointing an AML Compliance Officer.