European Union authorities intend to force companies associated with digital assets to provide tax authorities with information about their customers' balances, CoinDesk has reported.
The data-sharing law, which is based on the model of the Organization for Economic Cooperation and Development, should be agreed next week. The document will allow tax authorities in 27 countries to exchange data.
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The bill has been developed in part in order to combat crypto investors who hold their assets in foreign accounts.
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As part of the initiative, a special commission will compile a registry of crypto asset operators by December 2025.
The new rules will reportedly take effect on January 1, 2026.