EU formally agrees to new crypto tax data sharing rules

EU finance ministers on Tuesday formally adopted new EU rules allowing tax authorities to share personal encrypted data. The document will be published in the EU's official journal and come into effect 20 days later. The regulations, proposed in 2022, aim to prevent assets from being transferred overseas through encryption and networks, and have the unanimous support of EU member states. The rule will force crypto companies to report information on customer holdings, which will be automatically shared among tax authorities. (CoinDesk)