Greece approves 10% tax on crypto gains

Overview

Updated 45 minutes ago

Greece's parliament approved a 10% tax on cryptocurrency gains on November 5, the country's first dedicated framework for taxing digital assets. Net annual gains up to €500 are exempt, but crossing that line makes the entire gain taxable.

Income from staking, crypto lending and DeFi liquidity provision is treated as interest and taxed at 15%. The rules apply to tax liabilities arising on or after January 1, 2027, and a 12-month window lets investors declare past gains without penalties or interest.

Why it matters

Greek crypto holders face a 10% or 15% tax bill from January 2027, plus a 12-month window to declare past gains without penalties.

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Key Indicators

10%

Capital gains tax rate on crypto

Flat rate on net annual gains above the exemption.

€500

Annual net gain exemption

Gains up to this amount are untaxed; above it, the full gain is taxable.

15%

Tax on staking, lending and DeFi income

Treated as interest income under the Income Tax Code.

5 years

Loss carryforward period

Losses above €500 can offset only future crypto gains.

8%–30%

Crypto tax range across EU states

The EU has no unified crypto tax system, per Reuters.

Voices

Curated perspectives — historical figures and your fellow readers.

Organizations Involved

Hellenic Parliament

National legislature

Approved the crypto tax bill on November 5, 2026

Greece's unicameral legislature, which passed the country's first crypto tax framework.

Ministry of National Economy and Finance

Government ministry

Drafted the framework; implementation directives pending

The ministry that wrote Greece's crypto tax rules and will issue follow-on guidance.

Independent Authority for Public Revenue (IAPR)

Tax authority

Will set filing forms and record-keeping rules

Greece's tax collection agency, which will administer the new crypto returns.

Hellenic Capital Market Commission

Financial regulator

Supervisory powers strengthened under the law

Greece's securities regulator, given a wider remit over crypto asset activity.

Timeline

October 2026 November 2026

3 events Latest: 7 days ago

November 2026
Parliament approves 10% crypto gains tax
Latest Legislation

Lawmakers back a 10% rate on net gains over €500 and 15% on staking and DeFi income, effective for liabilities from January 1, 2027.
7 days ago
Parliament's Scientific Service flags swap loophole
Report

Advisers warn the bill's wording could tax crypto-to-crypto swaps, which the Finance Ministry says are exempt.
7 days ago
October 2026
Draft crypto tax articles go to public consultation
Policy

Articles 277 to 288 of a finance ministry draft set out the framework, with consultation running to October 22.
October 2026

Scenarios

Swaps confirmed exempt as IAPR issues guidance

Likely Resolves by Q2 2027

Discussed by: Greek Finance Ministry statements reported by CoinDesk and Reuters

The Finance Ministry has said exchanging one cryptocurrency for another will not trigger tax. If the IAPR's first circulars follow that line, crypto-to-crypto trades stay outside the 10% net, and the taxable events narrow to sales for money, purchases of goods and services, and contributions to company capital.

Swaps taxed after all, following the Scientific Service warning

Possible Resolves by End of 2027

Discussed by: Hellenic Parliament Scientific Service, in its report on the bill

Parliament's own advisers said the bill's wording could cover swaps and recommended an explicit exclusion. If that exclusion never arrives, or a later amendment or court reading treats swaps as disposals, traders who rotate between tokens would owe 10% on each move, and the average-cost accounting rule would become far more consequential.

First-year revenue undershoots as investors stay on foreign platforms

Likely Resolves by End of 2028

Discussed by: Greek Finance Ministry officials, via Reuters

A senior ministry official said revenue could not be projected because most Greek investors use platforms abroad, making the size of the domestic market hard to measure. If that holds, the 10% rate raises little in 2028 and the government faces a choice between tighter reporting rules and a wider source-of-funds dragnet, which the law already extends to crypto purchases from 2027.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

April 2022

India's flat crypto tax (2022)

India imposed a 30% flat tax on crypto gains from April 1, 2022, with no allowance for offsetting losses and a 1% withholding on larger trades. Domestic exchanges warned the rules would push traders to offshore venues.

Then

Trading volumes on Indian exchanges fell within months of the tax taking effect.

Now

The rate stayed in place, and peer-to-peer and offshore trading grew around it.

Why this matters now

Greece's finance ministry cited the same offshore problem when it declined to project revenue from its 10% rate.

2020s