Netherlands seeks opinion on crypto tax monitoring law to align with EU
,the Dutch government has sought public opinion on a proposed law that would require encryption service providers (such as exchanges) to collect and share user data with local tax authorities to comply with EU regulations.
The Dutch Ministry of Finance stated in a press release on October 24th: "The purpose of this bill is to increase transparency in cryptocurrency ownership to prevent tax evasion and avoidance."
Under the new law, tax authorities will share data collected by service providers about residents of other EU countries with tax authorities in those countries, as stipulated by the EU-wide cryptocurrency tax reporting rules (DAC8) passed last year.
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