The Danish Ministry of Taxation has opened a public consultation on a draft bill to implement Council Directive (EU) 2023/2226 (DAC8) and the Crypto-Asset Reporting Framework (CARF).
The consultation is set to conclude on 13 December 2024.
The proposed legislation focuses on:
- Expanding automatic exchange of information (AEOI) rules under the Common Reporting Standard (CRS) to encompass digital assets, central bank digital currencies, non-custodial dividends, and cross-border advance commitments.
- Defining reportable crypto-asset service providers, covered activities, and specific reporting requirements.
- Authorising the Minister of Taxation to introduce reporting, due diligence, and registration obligations for crypto-asset service providers and platform operators.
EU Member States are required to adopt and publish the laws, regulations, and administrative measures needed to comply with DAC8 by 31 December 2025. The provisions will be implemented starting 1 January 2026, though some provisions will not take effect until 1 January 2028.