Greece is moving to formally tax cryptocurrency profits for the first time, publishing a draft bill that would impose a 10% capital gains tax on individual crypto holdings — one of the lowest rates among European Union member states [1][2].

What the Draft Bill Proposes

The Greek Ministry of National Economy and Finance released the proposal on Wednesday for public consultation, which closes October 22, with a parliamentary vote targeted for the first week of November [1].

Under the bill, annual crypto gains of up to €500 ($560) would be exempt from the tax [1][2]. Above that threshold, a flat 10% rate would apply to realized capital gains. The draft also introduces a flat 10% levy on returns generated through staking, lending, or liquidity provision [1].

Notably, crypto-to-crypto swaps would be excluded from capital gains tax under the proposal — a provision that distinguishes Greece's approach from some other jurisdictions and could reduce friction for active traders [1].

The ministry has also included a one-time amnesty window: individuals who have previously realized crypto gains without declaring them would be allowed to do so voluntarily, without penalties, within 12 months of the law's publication [1].

Filling a Legislative Gap

Greek officials have framed the bill as addressing a clear gap in the country's tax code. Until now, Greece has had no formal legislative framework governing how cryptocurrency profits are treated — a situation the ministry explicitly acknowledged in its draft [1].

Estimating the size of Greece's crypto market is complicated by the fact that most domestic investors use platforms registered outside the country, making it difficult to gauge the tax's potential revenue impact, according to Reuters [2]. Greek officials have not yet released any projections on expected receipts [2].

How Greece Compares in Europe

At 10%, Greece's proposed rate sits well below those of several European neighbors. Austria introduced a 27.5% tax on cryptocurrency gains in March 2022, and France has applied a 30% flat tax on individual crypto capital gains since December 2018 [1]. Germany, France, and Italy are each setting or planning rates above 25% [2].

Germany's situation is particularly notable: under current German law, gains from crypto assets held for more than 12 months are generally tax-free for individuals. A draft proposal from the German Federal Ministry of Finance, reported in September, would end that exemption by subjecting cryptocurrency trading profits to the standard 25% flat-rate tax starting in 2028 [1].

Greece's comparatively light touch reflects a broader trend across the EU of countries developing crypto tax frameworks that mirror the treatment of traditional assets like equities — a shift driven partly by crypto's growing role in mainstream investment portfolios [2].

The EU Reporting Backdrop

Greece's domestic legislation does not exist in isolation. As an EU member state, Greece is required to implement DAC8 — the bloc's eighth amendment to the Directive on Administrative Cooperation — a tax transparency measure that extends automatic information sharing between national tax authorities to cover crypto transactions [1].

Under DAC8, crypto service providers must begin collecting transaction data on EU users from January 1, 2026. That data must be reported to national authorities, which are then required to complete their first cross-border exchanges — covering 2026 activity — by September 30, 2027 [1].

The directive's crypto reporting requirements are modeled on the OECD's Crypto-Asset Reporting Framework (CARF). Greece was among the countries that signed a multinational commitment in November 2023 to implement CARF and begin information exchanges by 2027 [1]. In practical terms, this means Greek tax authorities will soon receive detailed data on their residents' crypto activity from service providers across the EU, making voluntary compliance — and the amnesty window in the draft bill — more strategically significant for holders who have not previously declared gains.

What to Watch

The public consultation period closes October 22, giving industry participants and the public a narrow window to submit feedback before the bill advances. A parliamentary vote is expected in the first week of November [1]. If passed, the law would mark Greece's formal entry into the growing cohort of EU countries with codified crypto tax regimes.

Key questions that remain open include whether the final legislation will preserve the crypto-to-crypto swap exemption, how the amnesty window will be structured in practice, and whether Greek authorities will eventually publish revenue estimates as the DAC8 reporting infrastructure comes online in 2026 and 2027.