EU Considers Crypto Tax to Fund Long-Term Budget

The European Union is exploring new revenue streams to fund its long-term budget, and one proposal on the table is a tax on cryptocurrency profits.

According to a recent report, the EU could introduce a tax on cryptocurrency gains as part of its 2028-2034 budget. This would be in addition to other proposed taxes, such as a carbon border adjustment mechanism and a digital services tax.

The EU's executive arm has identified five new revenue streams to fund its long-term budget, including a crypto-tax. The European Parliament has also suggested additional revenue sources, including a tax on online gaming and digital services.

However, the proposal for a crypto-tax is still in its infancy, and it remains to be seen whether the EU's member states will agree on a common approach.