Greek government is working on a tax framework for cryptocurrencies

According to local reports, the Greek government is planning to introduce a tax framework for cryptocurrencies and digital assets, which it currently does not recognize.

Greek daily Ekathimerini reported that a special commission will present its findings on cryptocurrencies and digital assets to the Ministry of National Economy and Finance in September.

Tax possible from January 2025

The proposed solution to deal with crypto is expected to result in the inclusion of cryptocurrencies in taxation from January 2025. Profits from crypto and digital asset trading will be taxed as capital gains from the sale of securities, at a proposed rate of 15%.

The committee’s findings will be divided into three categories: defining and registering all cryptocurrencies, the method of taxation, and the monitoring process.

Due to the lack of legislation in Greece, profits currently made from crypto are being “exploited” by investors, with only a small number of people reporting these profits. These investors are mainly unemployed or taxpayers with no income but significant real estate holdings. Accountants and tax experts in Greece have observed an increase in crypto activity, especially among people around the age of 30.

Crypto scene in Greece is growing

The crypto scene in Greece is starting to reflect the increase in user activity. Athens has seen a rise in crypto-related events and meetups, such as ATHDAOx, which has grown more than four times in terms of attendance in recent years. The event’s leader said that the local decentralized finance and crypto community is working on scaling both the community itself and its in-person events in Greece.

In April, the Greek Stock Exchange (ATHEX) and the Sui blockchain announced their potential collaboration, resulting in the deployment of a new fundraising mechanism through the Sui ecosystem. A Sui representative stated that the Greek Stock Exchange’s Electronic Book Building (EBB) system puts it “at the forefront of innovation […] places it in comparison with stock exchanges around the world.”