Greece moves to close crypto tax gap with new 15% proposal

Greece has prepared plans for a 15% cryptocurrency capital gains tax as officials move to bring digital assets into the country’s tax system.

Summary

• Greece is preparing legislation to impose a 15% capital gains tax on cryptocurrency profits, with the first €500 in gains exempt.
• Officials revealed the proposal would formally bring crypto assets into Greece’s tax code, with a bill expected to reach parliament in the coming months.
• The move comes as other jurisdictions, including Israel and Illinois, pursue different strategies to increase crypto tax compliance and revenue collection.

According to a report, Greece’s Finance Ministry is drafting legislation that would impose a 15% tax on profits from cryptocurrency investments, filling a gap in a tax framework that currently lacks dedicated rules for digital assets.

Two government officials familiar with the matter disclosed that the proposal is expected to reach parliament in the coming months. One senior official said the legislation would formally incorporate cryptocurrencies into Greece’s tax code, creating a clearer set of rules for investors and tax authorities.

Under the proposal, the first €500 ($580) in crypto gains would be exempt from taxation. A second official said that the measure would apply to capital gains from cryptocurrency investments but would not cover individuals mining digital assets.

Mining activities conducted through registered companies, however, would remain subject to taxation.

The move places Greece among a growing number of jurisdictions seeking to capture revenue from digital asset activity. Crypto taxation across Europe varies significantly, ranging from about 8% in Cyprus to as much as 30% in France, with most countries taxing capital gains rather than individual transactions.

Governments are expanding crypto tax oversight

Alongside Greece’s proposal, authorities in several countries have recently intensified efforts to improve crypto tax compliance.

Earlier this week, crypto.news reported that the Israel Tax Authority received far fewer disclosures than expected under a voluntary crypto tax reporting program launched in August 2025. As per the report, the authority had hoped to recover up to $1 billion in tax revenue from undeclared cryptocurrency profits but has so far received disclosures covering only about $50 million in crypto assets.

58 taxpayers had used the program, which allows eligible crypto holders to avoid criminal prosecution if they correct past filings and pay outstanding taxes. Taxpayers must complete disclosures and settle liabilities before Aug. 31, 2026, while eligibility is limited to investors whose crypto holdings did not exceed roughly $522,000 as of December 2024.

Back in Greece, officials said that estimating the size of the domestic crypto market remains difficult because many investors use trading platforms located outside the country. As a result, authorities have not yet produced revenue forecasts tied to the proposed tax.

Transaction taxes are also gaining attention

Elsewhere, lawmakers in Illinois have advanced a different approach to taxing digital assets.

According to a fiscal year 2027 budget bill approved by the Illinois General Assembly, the state plans to introduce a 0.2% tax on cryptocurrency transactions facilitated by digital asset brokers. State budget documents estimate the measure could generate approximately $60 million in revenue annually.

Crypto.news previously reported that the proposal, known as the Digital Asset Privilege Tax Act, would require digital asset brokers to register with the state before conducting covered transactions.

The legislation also includes criminal penalties for non-compliance, with unregistered operations potentially facing Class 3 felony charges after Jan. 1.

Industry opposition has already emerged. In a joint letter, the Digital Chamber and the Illinois Blockchain Association argued that the proposal could damage the state’s digital asset sector and noted that no other U.S. state currently imposes a comparable crypto transaction tax.

Against that backdrop, Greece’s proposal adds another example of governments seeking formal mechanisms to tax cryptocurrency activity, even as officials continue to grapple with the challenges of tracking profits generated across global trading platforms.