From 2025, Greece introduces specific rules for cryptocurrency taxation. This guide covers everything you need to know to stay compliant with the new regulations.

Important note: The tax rates and rules presented are based on 2025 legislative proposals expected to come into force in 2026. The final framework may differ. Please consult the final legislation and a tax advisor. Crypto transactions must be reported annually on the tax return (Form E1/E2).

15% Tax on Crypto Capital Gains

Cryptocurrencies in Greece are expected to be taxed at a flat rate of 15% on capital gains. The tax is triggered when crypto is disposed of, meaning:

  • when sold for euros or other fiat currency,
  • when exchanged for a different token,
  • when participating in DeFi transactions involving exchanges.

There is no tax if you simply buy crypto with euros, hold it in your own wallets, or transfer it between wallets.

Calculating Capital Gains

The gain is calculated from the difference between sale price and acquisition cost, including fees. If you bought crypto with another currency, the market value of that currency on the purchase date is used.

The Greek tax authority (ΑΑΔΕ) is expected to accept two methods:

FIFO (First In, First Out)

The first coins you bought are considered the first ones you sell.

Weighted Average Cost

All purchases are calculated into an average cost basis.

Calculation Example

You buy 0.1 BTC for €2,000 and later 0.1 BTC for €2,500. You sell 0.15 BTC for €4,500.

Using FIFO:

  • Cost basis (0.1 + 0.05 from second purchase): €3,250
  • Capital gain: €1,250
  • Tax (15%): €187.50

Using Weighted Average:

  • Average cost (€4,500 ÷ 0.2 BTC × 0.15 BTC): €3,375
  • Capital gain: €1,125
  • Tax (15%): €168.75

Important: Consistency in method is essential, as changing methods annually may trigger audits.

Losses and Theft

Loss Carryforward

Losses from transactions can be carried forward for up to five years to offset future gains. If you have a loss in 2025 and gain in 2026, you can deduct the loss.

Theft and Hacking

In cases of theft or hacking, losses can be recognized if there is proof, such as a police report. Keeping receipts, transaction IDs, and exchange statements is crucial.

Income Taxation from Crypto

Not all activities result in capital gains. Income from staking, mining, yield-farming, airdrops or crypto payments are considered income and taxed according to Greek income tax brackets:

  • 9% for the first €10,000
  • 22% for middle incomes
  • up to 44% for incomes above €40,000

Staking Example

If you receive 0.05 ETH from staking when the price is €3,000, you have €150 in income. This is added to your other income. If you later sell the same ETH at a higher price, the appreciation is taxed again as capital gains at 15%.

Reporting and Tax Payment

Timeline

  • Transactions are reported in Form E1 of the annual tax return
  • Capital gains tax is paid the year after disposal
  • 2025 sales are reported and taxed in 2026 with deadline June 30th

Staking/Mining Income

Income from staking or mining is reported in the same year it was earned. Employers paying salaries in crypto are also required to report them.

Existing Crypto Portfolios

For those already holding cryptocurrencies from previous years, the first declaration can be made without immediate tax burden. Tax will arise when they are sold or exchanged.

Important: Keep acquisition records (date, amount, purchase price).

Personal Financial Implications

Diversification and Risk

Crypto has high volatility. Many investors limit their exposure (e.g., 5% – 10% of portfolio) based on their risk tolerance. UCITS ETFs may offer greater stability.

Note: This does not constitute investment advice. Each investor must assess their own risk tolerance.

Costs and Platforms

  • Choose regulated exchanges compliant with MiCA regulation
  • Check fees and spreads as they reduce net profits
  • Withdrawals to wallets have blockchain fees

Security

  • Use hardware wallets or mobile wallets with 2FA
  • Store the seed phrase offline
  • Avoid phishing emails, fake airdrops and suspicious links
  • Key protection is the holder’s responsibility

Stablecoins and DeFi

Stablecoins

Stablecoins like USDT and USDC facilitate capital transfers and are pegged to the dollar. However, they depend on the issuer’s reserves.

DeFi Lending

Returns from stablecoins or DeFi lending are considered income and taxed accordingly. DeFi platforms hide risks in smart contracts.

Daily Payments and Employment

Crypto Payments

Paying for goods with crypto is considered disposal. If you spend €100 when the acquisition cost was €60, the €40 profit is taxed at 15%. This limits use for daily transactions.

Freelancers

Freelancers paid in crypto must record the euro value on the payment date as income. If they later sell the coins at a higher price, the gain is taxed again as capital gains.

Preparing for the New Regime

Checklist:

  • ✅ Record keeping: maintain records for every purchase, sale, transfer and reward
  • ✅ Costing method: choose FIFO or average cost and apply consistently
  • ✅ Stay informed: follow ΑΑΔΕ guidelines and MiCA regulations
  • ✅ Tax advisor: for complex transactions, specialist advice is valuable
  • ✅ Risk management: only invest what you can afford to lose

Cryptocurrency adoption is increasing, especially among younger investors who see them as a hedge against inflation.

International exchanges like Binance, Kraken and Bitpanda already operate in Greece, while some tourism and technology sectors accept Bitcoin or stablecoin payments.

However, widespread daily use remains limited due to tax and practical barriers.

Conclusion

Cryptocurrency taxation in Greece for 2025 brings clarity but also responsibilities. With careful organization, proper record keeping and measured allocation, crypto can be a valuable part of a modern investment strategy.

This article provides general information and does not constitute tax advice. We recommend consulting a specialist for your specific situation.