According to Statista, Monero was processed on the blockchain 30,000 times a day in February 2025. This asset is still very popular among users, although it has experienced various ups and downs. In 2024, Binance categorized Monero and Zcash as high-risk assets. This category includes assets that are subject to high volatility and risk, the platform said in a statement. Also this year, Kraken officials said they were forced to exclude Monero from listing in Europe due to increased regulatory pressure. As such, regulation has affected Monero’s market cap and other indices.
10.04.2025
Greece has made significant efforts to adopt a tax policy on crypto assets as the use of cryptocurrencies grows globally. In January 2025, the Greek government introduced new tax regulations for cryptocurrency transactions.
In this article, you'll learn about the changing regulatory cycle for crypto taxes, with details on cryptocurrency law in Greece, tax responsibilities, accounting methods and residency rules.
Is crypto legal in Greece?
Yes, it is legal to own crypto in Greece. Trading, mining and using cryptocurrency is allowed by the Greek government. However, there are some questions regarding Greece crypto tax, as there is no legal framework for crypto transactions, which makes the regulatory landscape for crypto taxes quite vague.
The Bank of Greece (BoG) and the Hellenic Capital Market Commission (HCMC) do not imply any specific strategies regarding the integration of existing policies to crypto assets. However, some crypto assets may fall under existing legislation, such as financial instruments or electronic money, and will be subject to existing laws.
The Greek government announced plans to implement a Greece crypto tax framework by January 2025 in response to the increasing demand for digital assets. The Greek crypto tax aims to increase transparency in the cryptocurrency industry and bring Greece in line with international standards. Profits from cryptocurrency transactions will be subject to a 15% capital gains tax under the proposed tax framework.
In addition, the European Union's Markets in Crypto-Assets Regulation (MiCAR) (which came into force on 30 December 2024) is likely to be adopted by Greece.
MiCAR aims to improve financial stability and consumer protection by establishing a uniform regulatory framework for crypto taxes on cryptocurrency assets across EU member states.
4 tips to prepare for tax season
Navigating the complexities of tax law requires careful planning and organization. Here are four key tips to help you prepare for tax season:
1. Keep detailed records
Keep detailed records of all your cryptocurrency transactions, including dates, amounts, counterparties and the purpose of each transaction. This data is critical for calculating gains or losses and accurately reporting crypto taxes.
2. Understand taxable events
Learn all about the activities that trigger tax obligations in Greece. Taxable events include selling crypto for fiat currency, exchanging one cryptocurrency for another, and using crypto to pay for goods or services. Knowing all of these events will help you anticipate and meet your tax obligations to the Greek tax authorities.
3. Choose an appropriate accounting method
Greece allows specific accounting methods, such as First-In-First-Out (FIFO) and Weighted Average Cost, to calculate crypto gains and losses. Choosing the most appropriate method for your trading activity may affect your tax liability. Consultation with a tax professional can help determine the most appropriate approach.
4. Consult a tax professional
Given the nature of crypto taxation, consulting a professional on crypto taxes in Greece can ensure compliance with current laws and improve your tax situation. They can provide personalized advice tailored to your specific circumstances.
How much tax will you pay on crypto in Greece?
From January 2025, Greece will levy a flat 15% capital gains tax on gains from cryptocurrency transactions. This crypto tax applies to individuals who realize gains from activities such as selling crypto for fiat currency, exchanging one cryptocurrency for another, or using crypto to purchase goods and services.
For companies or individuals engaged in professional trading or large-scale mining, income may be classified as business income and taxed at the corporate income tax rate of 22%. This classification depends on the scope and nature of the crypto-related activities.
However, income from mining, staking, airdrops or receiving crypto as payment for goods or services is considered ordinary income and is subject to progressive income tax rates ranging from 9% to 44%, depending on total income.
The standard capital gains tax rate for individuals in Greece is 15%. This rate applies to gains from the disposal of various assets, including cryptocurrencies. For corporate entities, capital gains are generally taxed at the corporate tax rate, which is 22%.
Make sure you calculate your capital gains accurately to determine the correct tax liability. Determine the cost basis of your crypto assets and subtract it from the sale price. The cost basis includes the purchase price plus any associated fees. Proper record keeping is essential to support these calculations.
When calculating capital gains or losses from crypto transactions, Greece allows the use of specific accounting methods to determine the cost basis:
1. First-In-First-Out (FIFO)
This method assumes that the earliest assets acquired are sold first. It's widely used and can be beneficial in a rising market as older, lower cost assets are deemed to have been sold first, potentially resulting in higher taxable gains.
2. Weighted average cost
This approach calculates the average purchase price of all assets held to determine the cost basis. It simplifies accounting and can smooth out price fluctuations over time.
Choosing the appropriate accounting method is crucial as it has a direct impact on the calculation of gains or losses and therefore the tax due. It's advisable to consult a tax professional to determine the most appropriate method for your situation.
What is the 183 day rule in Greece?
The 183 day rule is a key criterion for determining tax residency in Greece. Under Greek tax law, an individual is considered to be a tax resident if they are present in Greece for more than 183 days in any twelve month period. This includes both consecutive and non-consecutive days.
Exceptions to the 183 day rule
There are certain exceptions to this rule. Individuals who are in Greece solely for purposes such as tourism, medical treatment or other private reasons and whose stay does not exceed 365 days (including short periods abroad) are not considered to be tax residents.
Consequences of being a tax resident
Being a tax resident in Greece means that you are subject to tax on your worldwide income. This includes all income earned both in Greece and abroad. Conversely, non-residents are only taxed on income derived from Greek sources.
Determining tax residency
In addition to the 183-day rule, other factors may establish tax residency, such as maintaining a permanent home or having substantial interests (such as economic or personal ties) in Greece. It's advisable to consult a tax professional to assess your specific situation and ensure compliance with Greek tax laws.
Understanding the 183-day rule and its exceptions is crucial for anyone spending significant time in Greece, as it directly affects your tax obligations and residency status.
