Bulgaria Passes Law Requiring Crypto Firms to Report User Identities and Trades
The law compels providers to deliver customer identity details and aggregated transaction summaries to Bulgaria’s tax authority so the data can be shared with other countries under EU DAC8 rules.
Overview
- Bulgaria’s National Assembly approved the amendments on Wednesday, Sept. 9, with 149 votes in favor, none against and 10 abstentions to amend the Tax and Social Security Procedure Code.
- The law requires crypto service providers to register with the National Revenue Agency and collect names, addresses, dates and places of birth, tax ID numbers and tax-residence information for reportable customers.
- Providers must also report transaction summaries covering purchases, sales, transfers, crypto-to-crypto exchanges and fiat conversions, including gross amounts, units traded and counts of buys and sells.
- Existing customers generally have until Jan. 1, 2027 to submit tax-residency self-certification and firms must send two reminders and allow a 60-day cure period before restricting accounts for noncompliance.
- The measure brings Bulgaria into line with EU DAC8 and the OECD’s CARF effort to enable automatic cross-border tax data exchange, though decentralized and self-custody activity can remain outside intermediary reporting and may still require blockchain analysis for enforcement.