Germany MOF Seeks Comments on Draft Bill to Implement DAC8 Crypto Asset Reporting Framework Provisions

The German Ministry of Finance Nov. 4 opened a consultation on a draft bill to implement DAC8 Crypto-Asset Reporting Framework (CARF) provisions. The bill includes measures to: 1) establish reporting, due diligence, and registration obligations for crypto-asset service providers and operators; 2) define reportable crypto-assets; 3) expand the scope of AEOI under the common reporting standard (CRS) to cover electronic financial products and central bank digital currencies; 4) expand the AEOI rules to non-custodial dividends and to exchanges of advance cross-border rulings; 5) provide the Jan. 1, 2027 deadline for fulfilling specific due diligence obligations for existing crypto-asset users acting ...