Greece’s Finance Ministry is preparing new legislation to introduce a 15% capital gains tax on profits from cryptocurrency investments starting in 2025. This would be the country’s first comprehensive framework for taxing digital assets, as no formal regulations are currently in place.
Core details of the tax proposal
Drafted by the ministry, the bill proposes taxing only the net gain realized when cryptocurrencies are sold, after accounting for trading fees. The legislation would apply the tax when holdings are converted into euros or other fiat currencies, or when used to purchase goods and services. Swaps between different cryptocurrencies, such as exchanging bitcoin for another coin, would not count as taxable events.
An annual exemption of €500, roughly $580, is built into the proposal, allowing investors to shield small gains from the new tax. Additionally, investors would be able to offset losses by carrying them forward for up to five tax years, potentially lowering future taxable gains. Tokens acquired through activities like staking or lending would only face taxation upon sale.
Greece plans to tax only realized crypto gains, with a €500 exemption and loss carry-forward provisions included in the draft bill. Swaps between cryptocurrencies would remain untaxed unless converted to fiat or spent directly.
If passed, the rules would take effect retroactively from January 1, 2025. Taxpayers would then declare any applicable gains from that date on their 2027 returns. The bill is expected to be submitted to parliament in November.
Oversight and compliance in the crypto sector
The regulatory landscape for crypto service providers in Greece aligns with the EU’s Markets in Crypto-Assets Regulation (MiCA). The Hellenic Capital Market Commission, the authority responsible for securities regulation, supervises and licenses domestic crypto firms. Meanwhile, the Bank of Greece oversees stablecoin issuers, ensuring they comply with prudential requirements.
Progress toward licensing under MiCA has been gradual. No Greek cryptocurrency service providers appeared on the EU register until September, despite the end of MiCA’s transitional period in July.
Since January 2026, the EU’s DAC8 directive has mandated that crypto exchanges collect and report detailed user and transaction information to national tax authorities. The Greek government incorporated these requirements into national law in May.
Mini dictionary: MiCA (Markets in Crypto-Assets) is a European Union regulatory framework designed to harmonize crypto asset regulation across member states, focusing on consumer protection, market integrity, and regulatory oversight for crypto service providers and stablecoin issuers.
Comparison to other EU countries
Taxation approaches for crypto vary significantly across the European Union. Cyprus currently applies an 8% rate on crypto gains, while France taxes such gains at 30%. Germany and Portugal are among the more favorable jurisdictions for long-term investors, exempting crypto gains if assets are held for more than one year.
| Country | Capital Gains Tax Rate | Exemption/Condition |
|---|---|---|
| Greece (proposed) | 15% | €500 annual exemption, only on realized fiat gains |
| Cyprus | 8% | No major exemption |
| France | 30% | No major exemption |
| Germany | 0% | Exempt if held over 1 year |
| Portugal | 0% | Exempt if held over 365 days |
This diversity in tax treatment reflects different national approaches to integrating cryptocurrency into fiat-dominated financial systems throughout Europe.
