The Greek government is planning to implement a tax framework for cryptocurrencies and digital assets, which are currently not recognized.
According to a report by the Greek daily paper Ekathimerini on July 15, a special committee is expected to present its findings to the Ministry of National Economy and Finance by September.
The committee’s proposal aims to integrate cryptocurrencies into the tax system by January 2025.
Profits from crypto and digital asset trades will be taxed as capital gains from the sale of securities at a 15% rate.
The findings will focus on three main areas: defining and recording all cryptocurrencies, establishing a taxation method, and setting up a monitoring process.
Due to the absence of specific legislation in Greece, profits from crypto investments are often “exploited” by investors, with “very few” declaring their earnings from such transactions.
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Ekathimerini notes that these investors are typically “mainly unemployed individuals or taxpayers with no income but substantial real estate holdings.”
Accountants and tax experts have observed an increase in crypto activity, especially among people around the age of 30.
The crypto scene in Greece is experiencing significant growth, reflected in the rise of user activity and events in Athens, the capital city.
In December, Cointelegraph attended ATHDAOx, a multi-day event held for the second consecutive year.
The event saw a fourfold increase in attendance compared to its inaugural year.
The event’s head told Cointelegraph that the local decentralized finance and crypto community is working to “scale” both the community and its in-person events in Greece.
In April, the Greek stock exchange and the Sui blockchain announced a potential collaboration, which later materialized.
This partnership introduced a new fundraising mechanism through the Sui ecosystem.
A representative from Sui highlighted that the Greek stock exchange’s Electronic Book Building system positions it “at the forefront of innovation […] in comparison to exchanges around the world,” in an interview with Cointelegraph.
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