The cryptocurrency market is entering a new era of tax transparency, as Greece joins the OECD’s international automatic exchange of information system for digital assets. With the ratification of the multilateral agreement for the Crypto-Asset Reporting Framework (CARF), the Greek tax authority now has the ability to systematically monitor the activity of tax residents on crypto trading platforms, both domestically and internationally.
Greek tax authority: CRS extends to cryptocurrencies
With the implementation of CARF, cryptocurrencies are no longer a “gray area” for the tax administration, as the new framework extends a model already applied to banks. This is the CRS (Common Reporting Standard), the international standard for automatic exchange of tax information for bank accounts. Through this system, countries exchange data on deposits, interest, and income of citizens who maintain accounts abroad. The same logic now transfers to the world of cryptocurrencies.
In practice, just as banks send data about their clients’ transactions, cryptocurrency exchanges will be required to transmit detailed information about user transactions. The exchange will happen automatically each year between participating countries, creating a global network of tax information for the digital economy.
Under the agreement, the Greek tax authority is designated as the competent authority for collecting, processing, and transmitting tax data concerning crypto asset users. From January 1, 2026, and for each subsequent year, data will be automatically sent to tax authorities of other participating countries, while Greece will receive corresponding information about Greek tax residents operating on foreign platforms.
The new regime targets so-called “reporting crypto-asset service providers”: exchanges, brokers, trading platforms, and digital wallets that manage client accounts. These businesses must implement strict identification procedures, request tax residency information and tax identification numbers from users, and maintain detailed records for at least five years.
The data transmitted is not limited to basic information. It includes all cryptocurrency purchases and sales in euros or other currencies, exchanges between different digital units, transfers to and from external wallets, as well as the number and value of transactions per year. In market terminology, many of these digital assets are called “tokens” – digital units of value issued and circulated on blockchain networks that may represent currency, investment rights, or access to services.
This way, tax authorities will have a comprehensive view of each user’s investment activity, facilitating audits and cross-checks with tax returns. For individual investors, the change means that activity on organized exchanges will no longer be “invisible.” A Greek tax resident trading on a foreign platform will be automatically reported to the Greek tax authority, without requiring additional requests or investigations. Similarly, foreign users of Greek providers will be reported to their countries. The authorities’ goal is to reduce tax evasion and equalize the tax treatment of crypto with traditional investment products.
Meanwhile, the framework leaves purely private transactions between users outside direct supervision, provided no regulated provider is involved. However, once funds pass through an exchange or other organized service, they are recorded and become visible to authorities.
