Czech government aims to tax cryptocurrency transactions

The Czech government is likely to grant the Financial Administration access to information on cryptocurrency transactions. Service providers in Czechia will be required to report annual crypto transactions to the tax authorities. The law aims to curb tax evasion and create equal conditions between cryptocurrency holdings and standard financial products. The proposal also includes penalties for non-compliance, with fines up to CZK 1.5 million and potential bans on operations for non-cooperating entities. The government will discuss the proposal this week.