The Hellenic Parliament has passed a Crypto Tax Law that will apply a 10% tax to annual net cryptocurrency gains above €500 ($557), with the rules scheduled to take effect on January 1, 2027. Income from staking, crypto lending and decentralized finance (DeFi) will face a separate 15% rate.

The cryptocurrency provisions form part of a wider Finance Ministry package that also covers debt servicing, financial oversight and government accounting. The legislation followed a public consultation held in October. Its 10% rate is lower than the 15% levy Greek officials discussed in June, according to the source report. The national approach reflects how the European Union divides responsibility for the sector: MiCA, the EU's Markets in Crypto-Assets regulation that took full effect in 2024, harmonizes market rules and licensing across the bloc, while taxation of crypto gains and yield stays with national governments such as Greece's.

How the Crypto Tax Law Treats Gains

Individual investors whose annual net crypto gains amount to €500 ($557) or less will be exempt. Once gains exceed that threshold, the 10% rate applies to the entire gain, rather than only to the portion above €500 ($557). The report cites an investor with €600 ($669) in net gains as an example: the tax owed would be €60 ($67), not €10 ($11).

Under the rules, a gain is generally calculated by subtracting an asset's acquisition cost from the value received when the asset is disposed of. Selling Bitcoin for euros can count as a taxable event. Spending crypto on goods or services can also count as a disposal, meaning investors will need transaction records showing what they paid and what the assets were worth when sold or spent.

Qualifying crypto losses exceeding €500 ($557) can be carried forward for five years and offset against future crypto gains. The bill also provides a 12-month window for investors to voluntarily declare previously unreported crypto income without late-filing penalties or interest, if they meet the conditions and pay within 60 days of filing.

Staking and DeFi Income Face a Separate Rate

The legislation treats yield from staking, lending and providing liquidity to DeFi protocols differently from gains on disposals. According to the Finance Ministry, Greece will classify those returns as interest income and tax them at 15%. The distinction places lending and liquidity provision within the law's separate income category. That scope reaches returns earned directly through on-chain protocols, which operate without the intermediaries found in traditional finance.

Crypto Swaps Remain Unclear

A key open question concerns trades that exchange one cryptocurrency for another. Athens says such swaps should not trigger capital-gains tax. However, a review by parliament's Scientific Service said the approved wording may not make the intended exclusion clear.

The review flagged broad language covering disposals made “for consideration,” which it said could include token-to-token trades. The accompanying explanation states that such swaps should not create taxable gains. Reviewers recommended an explicit exemption and clearer rules for exchanges involving stablecoins and electronic-money tokens, both token categories defined under the EU's MiCA framework. That uncertainty matters to traders who rotate between assets without converting them into fiat currency.

Next Steps

The new rules also depend on administrative guidance that Greece is preparing. A senior Finance Ministry official told Reuters that guidance on transaction transparency and tax audits would be issued in the coming weeks. The government has not estimated the tax's revenue, saying the market is difficult to measure because many Greek crypto investors use trading platforms based overseas.

Separately, lawmakers are considering wider rules for the sector under a broader crypto market structure bill. The approved tax package is detailed in the source report. Guidance and any clarification of the swap treatment remain the stated next steps before the tax rules take effect in 2027.