EU Ministers agree new tax rules for crypto assets – Dombrovskis

EU finance ministers have agreed new tax transparency rules for all service providers facilitating transactions in crypto-assets for customers resident in the EU. Up until now, the decentralised nature of crypto-assets has made it difficult for member states’ tax administrations to ensure tax compliance. But in future all crypto-asset providers based in the EU, irrespective of their size, will be obliged to report transactions of clients residing in the bloc.

The European Commission says the new rules will improve Member States' abilities to detect and counter tax fraud, tax evasion and tax avoidance. Here’s Valdis Dombrovskis, the EU Trade Commissioner.

Out words: financial assets

Dur: 00:20