Greece's Parliament approved legislation introducing a 10% capital gains tax on cryptocurrency on November 5, 2026. The main tax provisions take effect on January 1, 2027, with annual net gains of up to €500 exempt from the levy. The package also introduces a 15% tax on income from staking and crypto lending. The bill's passage, however, comes amid uncertainty flagged by parliamentary legal advisers over whether the legislation clearly exempts cryptocurrency swaps from the new capital gains regime.

New Rules for Crypto Capital Gains

According to the Greek Finance Ministry, the 10% tax generally applies to realized profits, calculated as the difference between acquisition costs and disposal proceeds. Simply holding cryptocurrencies does not create a capital gains tax liability, although spending digital assets on goods or services can trigger taxation. For taxpayers, the practical distinction is that unrealized holdings sit outside the tax net, while the timing and form of disposals determine when a liability arises. The legislation also permits eligible crypto losses to offset future gains for up to five years, with these deductions remaining subject to the relevant statutory conditions.

Crypto Swap Exemption Faces Legal Questions

The Finance Ministry intends to exempt direct cryptocurrency swaps from capital gains taxation. However, the Hellenic Parliament's Scientific Service identified potentially conflicting language in its report, warning that the legislation's broad definition of asset disposal could encompass cryptocurrency exchanges. The advisers recommended introducing an explicit exemption for crypto-to-crypto transactions, along with clearer provisions covering exchanges between stablecoins and other digital assets.

The warning concerns legislative interpretation rather than an established tax liability. Further clarification may depend on the final published text of the law and subsequent administrative guidance. With the main provisions scheduled to take effect on January 1, 2027, the treatment of crypto-to-crypto exchanges in practice will hinge on that wording and on any instructions issued before the regime comes into force.

Staking and DeFi Income Face 15% Tax

Under the legislation, income from crypto lending, liquidity provision, and staking is treated as interest and will attract a 15% tax, separate from the capital gains rate. Because the two levies apply independently, the same holdings can generate tax under both regimes — income taxed as it accrues from lending or staking, and capital gains when assets are later disposed of. The regulatory treatment of staking also remains under review elsewhere; in the United States, New Jersey recently withdrew restrictions on Coinbase's staking services, an example of how staking rules continue to evolve across jurisdictions.

The Greek framework additionally places greater emphasis on documenting cryptocurrency acquisition costs. Oikonomikos Tachydromos reported that unsupported purchase costs may be treated as zero, a provision that could increase taxable gains when investors cannot establish their original purchase prices. Transaction histories and supporting records will therefore become important for tax calculations.

Investors Receive a Window to Declare Earlier Gains

The legislation provides a conditional voluntary disclosure period covering previously earned cryptocurrency income. Eligible taxpayers may submit declarations within 12 months after the relevant provision takes effect, and taxes on those declarations must be paid within 60 days of filing. Qualifying disclosures can avoid late-filing penalties and interest. Voluntary disclosure, however, does not automatically establish the legitimacy of the original investment capital, and investors must still satisfy applicable documentation requirements.

EU Reporting Rules Will Strengthen Crypto Oversight

Greece's changes coincide with the European Union's expanded cryptocurrency reporting framework. According to the European Commission, DAC8 reporting obligations began on January 1, 2026, and the first cross-border information exchanges covering 2026 activity are due by September 30, 2027. The framework covers transactions involving several digital asset categories, including stablecoins, and enables tax authorities to receive information concerning residents using qualifying overseas providers. The timelines overlap: the new Greek rates apply from January 1, 2027, and the first cross-border DAC8 exchanges are due by September 30, 2027, meaning the domestic regime and the EU transparency framework will phase in over the same period.

The official parliamentary record still lists publication in Greece's Government Gazette as pending. Further implementing instructions will determine the detailed documentation and verification procedures.