Greece plans to impose a 10% tax on capital gains from cryptocurrencies, with annual earnings of up to 500 euros exempt from tax

Greece is preparing to legislate a 10% tax on capital gains from cryptocurrencies. The draft bill was published on Thursday local time and has entered the public consultation phase, with a submission to parliament expected in November.

According to the draft, individuals can be exempt from tax on capital gains from cryptocurrencies up to 500 euros per year, which is approximately 559.95 USD. Greece currently lacks a complete tax legal framework for cryptocurrencies, and officials have stated that it is difficult to accurately estimate the size of the country's cryptocurrency market due to the vast majority of investors using offshore platforms. The government has not made specific predictions regarding the fiscal revenue generated by the new tax.