Greece's Finance Ministry has drafted a bill that would tax cryptocurrency capital gains at 15%, with the first €500 (about $580) of annual gains exempt, according to Reuters and Greek outlet Parapolitika. The legislation would establish the country's first legal framework for taxing crypto, a market that currently sits outside the Greek tax code entirely.

The bill is due to reach parliament in November. If passed, the rules would apply retroactively from January 1, 2025 — meaning gains accrued last year onward would be declared on tax returns filed in 2027.

What does the draft actually tax?

The proposal targets realized gains only. Tax would apply when investors convert crypto into euros or another fiat currency, or use tokens to pay for goods and services.

Key mechanics in the draft:

• The first €500 of crypto gains per year is exempt
• Only net gain is taxed, after deducting trading fees
• Crypto-to-crypto swaps — for example, trading into bitcoin — do not trigger the tax
• Losses can be carried forward against future crypto gains for up to five tax years
• Tokens earned through staking or lending are taxed only when sold

Note that Reuters' report on the draft cited a 10% rate, while Parapolitika reported 15%, reflecting figures still in flux ahead of the bill's formal submission.

How does Greece regulate crypto now?

Greece operates under the EU's Markets in Crypto-Assets Regulation (MiCA). The Hellenic Capital Market Commission authorizes and supervises crypto-asset service providers, while the Bank of Greece handles prudential oversight of stablecoin issuers.

Licensing has lagged. No Greek providers appeared on the EU's register until September, roughly two months after MiCA's transitional period ended on July 1.

On the data front, the EU's DAC8 directive has required crypto exchanges since January 2026 to collect detailed information on users and transactions and report it to national tax authorities — a reporting burden comparable to what banks already carry for ordinary accounts. Greece transposed those rules into national law in May.

Where does Greece fit in the European picture?

Crypto tax treatment varies sharply across the bloc. Rates run from 8% in Cyprus to 30% in France. Some jurisdictions are more lenient: Germany exempts crypto held for more than a year, and Portugal applies the same treatment after 365 days.

At 15%, Greece would position itself near the middle of that range — high enough to generate revenue from a currently untaxed asset class, low enough to stay competitive with several larger EU markets. The loss-carryforward provision and the crypto-to-crypto swap exemption mirror design choices made in other European regimes, and both reduce the effective burden on active traders relative to a flat transaction-based levy.

The retroactive start date creates an immediate compliance consideration: Greek investors who realized gains in 2025 or 2026 will need records of their transactions — including fees paid — to calculate net positions when the first declarations fall due with 2027 filings.

Parliament's November session is the next checkpoint. Passage there would set the framework in statute well before the first retroactive tax returns land.