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# EU Implements New Rules on Crypto Holdings: Enhancing Transparency and Combatting Tax Fraud

In a move aimed at combating tax fraud, avoidance, and evasion in the crypto industry, the European Union (EU) has recently adopted new rules that allow tax authorities to share data on individuals' crypto holdings. These rules, known as the Eighth Directive on Administrative Cooperation (DAC8), require crypto companies to report information on their customers' holdings, which will then be automatically shared between tax authorities. This development marks a significant step towards increasing transparency in the crypto sector and ensuring that individuals are meeting their tax obligations.
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