Greece Approves 10% Tax On Crypto Gains

Greece has become the latest European country to approve a new tax on investors’ cryptocurrency gains. 

The Greek parliament approved a new 10% tax on cryptocurrency capital gains and a separate 15% tax on income generated from staking digital assets and decentralized finance (DeFi).

The new taxes take effect on Jan. 1, 2027.

Going forward, individual investors will pay a 10% tax on annual crypto gains that exceed 500 euros ($559 U.S.). Any gain above that amount will be taxable.

In a twist, the new tax applies to when investors use cryptocurrencies such as Bitcoin (CRYPTO: $BTC) to buy goods or services, not just when they sell digital assets for cash.

Returns from staking, crypto lending, and providing liquidity to DeFi platforms will be treated as interest income and taxed at 15%, according to the Greek Finance Ministry.

Investors who record crypto losses exceeding 500 euros can carry them forward for five years to offset future crypto gains. 

Greece’s Finance Ministry said in a statement that swapping one cryptocurrency for another will not trigger any taxes. 

France recently approved a similar 10% tax on crypto gains as countries across Europe look for new revenue sources and to lower government debt.

Bitcoin is trading at $75,000 U.S. on Nov. 6.