Seeking to order the market for rapid expansion cryptocurrencies, Greece has introduced a new license framework for companies offering services related to crypto. This has been described in a ministerial decision published in the Government gazette And marks the first complete application by the country of the European Union markets regulations (MICA).
Under new policies, all Crypto companies – including digital exchanges and suppliers – will be required to obtain licenses from Hellenic Capital Market Commission (HCMC) before offering services to Greek customers. This decision, coordinated by the Ministry of Finance and the HCMC, reflects Greece’s efforts to align with both EU law and respond to the growing risks linked to investor protection, tax evasion and financial crime.
License process and requirements for cryptographic companies in Greece according to the updated framework
The license procedure begins with a preliminary meeting at the HCMC. The candidates must then submit a complete file which includes a detailed business plan, shareholders’ disclosure and management and backup mechanisms of customer funds.
If the submission is incomplete, it will be returned for revision. A final decision – approval or rejection – will be issued within forty working days. Companies that obtain approval will not only be authorized to operate in Greece, but will also benefit from what managers describe as a “European credibility seal”, reporting to investors that the platform is in accordance with the EU regulatory standards.
The platforms that do not guarantee a license will be prohibited from targeting Greek customers. This requirement also applies to international actors, which means that major exchanges such as Binance, which serves millions of users on a global scale, must adapt to the new regulatory landscape in order to remain active in Greece.
Link monitoring to tax controls and anti-flask
The license framework should be combined with stricter supervision aimed at fighting money laundering and tax evasion. The anti-balance authority and the independent authority of public revenues (IAPR) will have the power to monitor the flows of capital. In the event of a suspicious activity, the authorities can trigger the tracing of assets, the audits of the source of the ends and even the freezing of the digital assets.
On taxation, the government is preparing to reveal measures detailed later in the fall according to the recommendations of a working group responsible for defining the framework. The reference scenario provides a 15% tax on capital gains in cryptographic transactions, calculated as the difference between purchase and sale price.
These amounts will be recorded for tax declaration purposes, allowing them to cover the income thresholds charged. Business entities can be faced with a higher tax rate.
VAT possible and compulsory reports
In addition to the updated license framework for cryptographic companies in Greece, officials also plan to apply the standard value added to 24% (VAT) to certain services related to the crypto, although the direct negotiation of digital assets should remain exempt by VAT. A next legislative bill will also oblige taxpayers to declare their digital assets on the annual income tax form E1.
The government’s final decision on cryptographic taxation and report obligations will be given to Prime Minister Kyriakos Mitsotakis. Official announcements are expected during his opening speech at the 89th Thessaloniki International Fair, which takes place from September 6 to 14.
By implementing mica provisions alongside national and compliance tax measures, Greece aims to position itself as a regulated and transparent center for digital finance within the European Union – while sending a clear message to international operators that the era of the crypto not regulated in the country is coming to an end.
