#DAC8: the new automatic crypto data exchange in Europe
The DAC8 directive (Administrative Cooperation Directive in its eighth version) is the final piece that closes the circle of crypto tax transparency in Europe. Starting in 2026, crypto trading data will automatically flow between countries.
What is DAC8?
DAC8 is a European directive (approved in October 2023) that extends the automatic exchange of tax information to digital assets. It completes the framework initiated by Models 172/173 in Spain and is aligned with the OECD global CARF standard.
What data is exchanged?
Crypto-Asset Service Providers (CASP)—basically anyone who provides crypto custody, exchange, or transfer services—must collect and report:
- User identification: name, NIF, tax residence, date of birth.
- Crypto for fiat exchange operations (and vice versa): dates, amounts, asset types.
- Transfers of cryptoassets to external wallets: amount and type of asset.
- Market value of the portfolio at the end of the year (possibly).
What platforms does it affect?
It affects all CASPs operating in the EU, regardless of where they are registered, as long as they have users residing in the EU:
- Centralized exchanges (Binance, Coinbase, Kraken, Bybit, OKX...).
- Crypto custody platforms.
- Institutional staking platforms.
- Crypto brokers.
Importantly: DEXs (decentralized exchanges) and pure DeFi protocols are out of scope for now, although there is regulatory debate on the matter.
Implementation schedule
| Milestone | Date |
|---|---|
| Directive approval | October 2023 |
| National transposition in EU countries | Before 12/31/2025 |
| First information reported | Fiscal year 2026 |
| First automatic data exchange | 2027 (for the year 2026) |
What does it mean for the Spanish taxpayer?
- The AEAT will know what you have in European exchanges without the need for an individual request.
- The veracity of your statement will be verifiable directly with the exchanges' data.
- The margin for inadvertent (or deliberate) omissions is drastically reduced.
- The pressure to regularize previous situations increases: it is better to declare correctly now than to wait for a request.
DAC8 and Model 721
Model 721 already requires cryptos to be declared on foreign exchanges from 2024. DAC8 goes further: it is the exchange that reports directly to the AEAT, without depending on the taxpayer voluntarily declaring it.
The 721 + DAC8 combination makes the chances of evasion minimal for users of regulated exchanges.
Conclusion
DAC8 marks the end of the era of crypto opacity in Europe. Starting in 2027 (for fiscal year 2026), the AEAT will have automatic data from all European exchanges. The best insurance against this new reality is to have correctly declared all previous exercises.