Bulgaria passes law requiring crypto firms to report user transactions

Bulgaria’s parliament has approved final changes requiring crypto service providers to report detailed customer and transaction data to the country’s tax authority, bringing national rules in line with European Union information-sharing requirements. Summary Bulgaria’s parliament approved the crypto reporting amendments with 149 votes in favor, none against and 10 abstentions. Crypto providers must report customer identities, tax residency details and transaction information to the National Revenue Agency. Reported data will cover crypto purchases, sales, transfers, exchanges and transactions involving fiat currencies or other crypto assets. The rules bring Bulgaria in line with EU requirements for tax authorities to exchange crypto user information across participating jurisdictions. The Bulgarian National Assembly approved the amendments to the Tax and Social Security Procedure Code on Sept. 9, with 149 lawmakers voting in favor, none against and 10 abstaining in the 240-seat chamber. The legislation, introduced by the Cabinet, passed its second and final reading and transposes two European directives into Bulgarian law. The measures allow tax authorities in EU member states and ...