DAC 8 – Reporting Obligations for Crypto-Asset Service Providers (EU CARF Implementation)

DAC 8 applies to Crypto-Asset Service Providers (CASPs) operating in the EU internal market, regardless of their place of establishment. Third-country CASPs are subject to a registration requirement in a member state. Covered customers are natural persons and legal entities tax-resident in an EU member state who conduct crypto-asset transactions above certain thresholds.

• Collection and verification of customer data (KYC/AML-compliant) including tax identification numbers.
• Annual reporting of transaction data (value, type, volume) aggregated per user to the national tax authority by 31 January of the following year.
• Automatic exchange of reported data between member states by 28 February of the following year.
• Simultaneous CRS amendments: financial institutions must also include crypto-assets in CRS reports where these fall under their custody.
• Penalties for non-reporting or incomplete reporting (national implementation with minimum standards prescribed).

5 corrections:
- NFT exclusion is incorrect — certain NFTs are covered
- Exchange deadline February 28 is incorrect — correct is September 30
- Incorrect EU Commission proposal date: October instead of December 2022
- Incorrect Official Journal publication date: December 2024 instead of October 2023
- January 31 deadline was only in the proposal — final directive provides 9-month window
2 updates:
- Missing transition period until July 1, 2026 for full compliance
- 12 member states missed transposition deadline (January 2026)