In their meeting held on 16 May 2023, the Economic and Financial Affairs Council (ECOFIN) agreed on a new Council Directive amending Directive 2011/16/EU on administrative cooperation in the field of taxation for the introduction of new transparency rules concerning crypto-asset transaction reporting (DAC8 Directive). The DAC8 Directive requires all crypto-asset providers based in the EU to report transactions of clients residing in the EU. Further, the Directive has been extended in scope to include reporting obligations for financial institutions regarding e-money and central bank digital currencies and the automatic exchange of information on advance cross-border rulings used by natural...