EU Introduces Update to Crypto Asset Data-Sharing Rules

The European Commission published a technical update Wednesday to existing rules on how EU countries share information with each other on crypto assets and assess the effectiveness of the data shared.

The update clarified what needs to be included in the reporting, including general information on compliance costs, whether there are any litigation and court proceedings relating to the asset, whether the EU country in question had access to relevant information about the asset, and how many tax identification numbers possessed by the government are valid - among others.

The update also provided an electronic form for member countries to ...