According to local reports, the Greek government is planning to introduce a tax framework for cryptocurrencies and digital assets, which it currently does not recognize.

On July 15, the Greek daily paper Ekathimerini reported that by September, a special committee will have presented its findings on cryptocurrencies and digital assets to the Ministry of National Economy and Finance.

Crypto solutions

A solution to deal with crypto will be proposed, and by January 2025, it is anticipated that cryptocurrencies will have been included in taxation. The paper said that profits from crypto and digital asset trades would be taxed as capital gains from the sale of securities at a 15% rate. 

The committee’s findings will be divided into three categories: defining and recording all cryptocurrencies, the method of taxation and the monitoring process.

Ekathimerini reports that due to the lack of legislation in Greece, the profits gained from crypto at present are “exploited” by investors with “very few” declaring the profits from transactions of such currencies.

It states that these investors are “mainly unemployed individuals or taxpayers with no income but substantial real estate holdings.” Accountants and tax experts in Greece have observed an increase in crypto activity, particularly among those around the age of 30.

Greek crypto scene

The crypto scene in Greece is starting to mirror the rise in user activity within the country. Athens, the capital city, has witnessed an increase in crypto-related events and meetups.

In December, Cointelegraph attended ATHDAOx, an event held for the second consecutive year over multiple days. The event attracted four times as many attendees as it did in its inaugural year.

The head of the event told Cointelegraph that the local decentralized finance and crypto community is working to “scale” both the community itself and its in-person events in Greece.

In April, the Greek stock exchange and the Sui blockchain announced their potential collaboration, which later came to fruition. This collaboration led to the deployment of a new fundraising mechanism through the Sui ecosystem.

In an interview with Cointelegraph, a representative from Sui said that the Greek stock exchange’s Electronic Book Building system places it at “the forefront of innovation […] in comparison to exchanges around the world.”