On June 3, the Latvian Cabinet approved Bill No. 24-TA-3148, a major step toward aligning the country’s tax laws with the Crypto Asset Reporting Framework (CARF) and the EU’s DAC8 directive. The new legislation introduces stricter reporting and due diligence rules for crypto asset service providers and will come into effect on January 1, 2026.
The new crypto bill aims to increase transparency and cooperation across the EU by ensuring all crypto transactions, including indirect investments, fall under international reporting standards.
CARF also expands CRS coverage to include digital wallets and stablecoins, aligning with the OECD’s global push for crypto regulation.
Latvia is rapidly emerging as a hub for crypto and blockchain innovation. According to the Ministry of Economics:
With a clear regulatory roadmap, Latvia is positioning itself to lead in Web 3.0 development, attracting global talent and investment in blockchain technology.
In Latvia, capital gains from cryptocurrency trading for individuals are subject to a 25.5% personal income tax when crypto is sold for fiat currency. Non-residents may be exempt from this tax for a three-year period (2025-2027).
Yes, Latvia is increasingly crypto-friendly and aims to become a blockchain powerhouse in the EU. It’s implementing progressive regulations, offering tax incentives (like the non-resident exemption), and actively attracting foreign crypto companies and investment.
The Bank of Latvia (Latvijas Banka) is the primary authority responsible for licensing and overseeing crypto-asset service providers in Latvia, aligning with the EU’s MiCA Regulation. The State Revenue Service (SRS) handles tax-related compliance and reporting.
As July 2025 kicks off, Pi Network faces both opportunity and challenge. While the community…
The Pi Network has seen its price drop steadily over the past months. From once…
On July 1, the SEC (Securities and Exchange Commission) issued guidance for crypto ETP (Exchange…
After peaking at $3.7 trillion in Q4 2024, the crypto market entered 2025 with weaker…
The U.S. Senate has passed President Donald Trump’s massive $3.3 trillion spending bill, nicknamed the…
The crypto world woke up to big news today as XRP officially became part of…