Greece is preparing to close a long-standing tax blind spot for cryptocurrencies with a proposed 15% capital gains tax on crypto profits, according to officials involved in drafting the plan.
What’s proposed
- The Finance Ministry is drafting legislation to formally bring cryptocurrencies into Greece’s tax code, creating clearer rules for investors and tax authorities. Officials say the bill is expected to reach parliament in the coming months.
- The proposal would tax profits from crypto investments at 15%, but the first €500 ($580) of gains would be exempt.
- Individual miners would not be covered by the measure, while mining activities conducted through registered companies would remain taxable.
Why it matters
Greece’s move follows a wider trend of governments trying to capture revenue from digital-asset activity as trading increasingly migrates across borders and platforms. Estimating the size of Greece’s domestic crypto market is difficult, officials say, because many residents trade on foreign platforms — a factor that has so far prevented Greek authorities from producing revenue forecasts tied to the proposal.
European context
Across Europe, crypto tax regimes vary widely. Cyprus has one of the lowest effective rates (around 8% for capital gains), while France can reach up to 30% — with most countries focusing on taxing capital gains rather than individual transactions. Greece’s 15% proposal would place it toward the middle of that range.
Other recent moves on crypto tax compliance
- Israel: A voluntary reporting program launched by the Israel Tax Authority in August 2025 aimed to recover up to $1 billion in unpaid crypto taxes, but uptake has been far below expectations. So far, disclosures cover about $50 million in crypto assets and only 58 taxpayers have used the program. The amnesty program lets eligible holders avoid criminal prosecution if they correct past filings and pay liabilities before Aug. 31, 2026; eligibility is limited to investors whose holdings did not exceed roughly $522,000 as of December 2024.
- Illinois, USA: State lawmakers have advanced a different path — a 0.2% transaction tax on crypto trades facilitated by digital asset brokers, included in a fiscal 2027 budget bill. State documents estimate roughly $60 million in annual revenue. The proposal would require brokers to register with the state and imposes criminal penalties for non-compliance, including potential Class 3 felony charges for unregistered operations after Jan. 1. Industry groups such as the Digital Chamber and the Illinois Blockchain Association warn the tax could harm the state’s digital asset sector and note no other U.S. state currently imposes a comparable transaction tax.
Outlook
Greece’s 15% proposal adds to a growing set of national efforts to regularize crypto taxation. As governments push for clearer rules, challenges remain around cross-border trading, platform reporting requirements, and how best to balance compliance with industry growth. Expect debate in Athens in the coming months as lawmakers weigh the bill before parliament.
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