Definition ∞ DAC8 Regulation refers to the European Union’s eighth Directive on Administrative Cooperation, specifically expanded to include digital assets. This regulation mandates that crypto-asset service providers report transactions and holdings of EU residents to tax authorities. Its purpose is to enhance tax transparency and counter tax evasion within the digital asset sector.
Context ∞ DAC8 represents a significant regulatory development for crypto firms operating within or serving the EU market. News coverage often focuses on its implementation challenges, the specific scope of assets covered, and its potential impact on user privacy and the global regulatory landscape for digital assets. Compliance with this directive is a major industry concern.
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