Greece passes a 10% crypto gains tax, with a separate 15% levy on staking and DeFi income

Greece's parliament on Thursday approved a 10% tax on cryptocurrency gains, the country's first dedicated crypto tax regime, according to Reuters. The rules take effect Jan. 1, 2027. A finance ministry official told Reuters that implementing directives, including audit and transparency rules, will be published "in the coming weeks".

What the law says

The details below come from Cointelegraph, which cited the Greek outlet Oikonomikos Tachydromos, and from Bitcoin Magazine's coverage. The bill text was not available to us, so treat the finer points as reported, not confirmed.

• Gains tax: 10% on net gains from selling crypto, calculated as the sale price minus the purchase price. Fees tied to the trade can count toward the calculation.
• Exemption: investors whose net gains for the year do not exceed 500 euros (about $560) pay nothing. Bitcoin Magazine, citing Greek analyses, says that once a year's net gain clears 500 euros, the 10% applies to the whole gain, not only the part above it.
• Income from staking, lending and liquidity pools: a separate 15% tax, per Cointelegraph and a CoinDesk headline.
• Swaps: exchanging one crypto asset for another is reported as not generating a taxable gain. Spending crypto on goods or services may trigger the gains tax.
• Losses: Bitcoin Magazine reports losses above 500 euros can be carried forward five years against future crypto gains only.
• Amnesty window: Cointelegraph reports investors get 12 months to declare previously unreported gains, paying the resulting tax within 60 days of filing to avoid penalties and interest.

Who it hits

The 500-euro exemption is small. A trader who buys 2,000 euros of bitcoin and sells it for 2,800 has an 800-euro gain. If the reading that the rate applies to the full gain is right, the bill is 80 euros, not 30. A long-term holder who never sells owes nothing, because holding while the price rises does not create a tax event.

Two groups feel it more than most. Merchants and freelancers in Greece who accept bitcoin as payment, since spending coins can crystallize a gain. And people who earn yield from staking or lending, who face the 15% rate on income rather than the lower 10% gains rate. Bitcoin Magazine also reports that crypto purchases fall under Greece's "source of funds" checks from 2027, so buyers may have to show where the euros came from.

How it compares with the US

For American readers the contrast is the swap rule. The IRS has said since Notice 2014-21 that virtual currency is treated as property for federal income tax purposes, which is why trading one coin for another is generally a taxable disposal in the US. Greece's reported approach is the opposite on that point. A finance ministry official told Reuters that EU member states levy crypto gains at rates of roughly 8% to 30%, with no single system across the bloc, which puts 10% toward the low end.

The market backdrop

The vote lands on a weak tape for crypto. Bitcoin traded near $75,800 on Coinbase early Friday against an open of $79,576 at the start of the 24-hour window, a drop of about 4.8%. Our crypto prices report covers the day's moves. Greece is one country, and nothing in the reporting ties the tax to Friday's selloff.

Sources: Reuters, Cointelegraph, Bitcoin Magazine, CoinDesk, IRS, Coinbase Exchange. Euro conversions as reported by the outlets. This is market information, not investment advice or tax advice.