Greece Prepares New 10% Capital Gains Tax for Crypto Investors

Greece is set to move forward with a 10% capital gains tax on cryptocurrency, Reuters reported Thursday, citing draft legislation that has been opened for public consultation.

The proposed tax would not apply to annual crypto gains of up to 500 euros ($560). The government plans to submit the bill to parliament in November.

The scale of Greece’s cryptocurrency market is difficult to assess because many investors use crypto platforms located outside the country, Reuters said. Greek officials have not yet released an estimate of the revenue the proposed tax could generate.

The 10% rate would be relatively low by European Union standards. Germany, France and Italy are setting or considering cryptocurrency capital gains rates above 25%.

Greece’s proposal follows a wider European push to bring crypto taxation in line with rules for conventional investments, including stocks. Governments are increasingly adjusting their tax frameworks as cryptocurrency becomes a more established component of mainstream investment portfolios.