Netherlands Asks for Public Comments on Proposed Crypto Laws

The Dutch government is seeking public feedback on proposed legislation that would require crypto service providers to collect and share user data with the local tax authority, in line with EU regulations.

In an effort to combat tax avoidance and evasion, the proposed bill aims to increase transparency regarding cryptocurrency ownership.

However, the Ministry of Finance emphasized that this should not affect individual crypto owners, who are already required to report their holdings to the country’s tax authority, the Belastingdienst.

In accordance with EU-wide crypto tax reporting rules (known as DAC8) implemented last year, the Dutch tax agency would share data collected by service providers with the tax authorities of other EU countries.

This shift in responsibility aims to ease the administrative burden on service providers, as they only need to report to the EU member state in which they are registered.