The development of an effective and fair institutional framework for the taxation of cryptocurrencies, alongside the integration of international consumer protection legislation, was announced by the Minister of National Economy and Finance, Kostis Hatzidakis, speaking at an event organized by the Numismatic Museum.
“Cryptocurrencies are a new reality, we cannot ignore them. But there is no control to the extent that it should at the national and international level,” he stressed. The institutional framework that is being processed, in addition to the initiatives of the EU and the OECD, as the minister mentioned, will be formed in cooperation with the Bank of Greece and will focus on:
- Development of the regulatory framework for the operation and monitoring of cryptocurrencies and other digital assets.
- Development of the framework for the tax treatment of cryptocurrencies, which are a form of investment, taking into account best international practices.
- Development of the control framework of cryptocurrencies, and combating their use for illegal activities.
Hatzidakis estimated that the most likely scenario for the future will be the coexistence of different means of payment (cards, cash and digital currencies), with an upward trend of digital means of payment.
The minister also criticized the European Union for delaying the adoption of the digital euro. “The issue is being discussed, but there is no progress. Most governments are very hesitant, Euroscepticism prevails,” he added.
