EU Introduces DAC8 Directive for Crypto Tax Transparency: Binance, Coinbase, Kraken Must Comply

The European Union's DAC8 directive requires crypto exchanges like Binance, Coinbase, and Kraken to collect and report user and transaction data to national tax authorities starting January 2026. The directive aims to prevent tax evasion, but investors have criticized the stricter crypto tax reporting rules as a crackdown on crypto. The directive applies not only to EU headquartered firms but also global platforms serving EU residents. With 75 jurisdictions worldwide committing to the OECD's Crypto-Asset Reporting Framework, similar reporting requirements are likely to emerge globally.