Bulgaria Passes Crypto Asset Tax Data Access Bill

TechFlow reports that on September 15, citing Bitcoin.com News, the Bulgarian National Assembly passed an amendment to the Tax and Social Security Procedures Act on September 9, authorizing the State Revenue Service to obtain detailed information on crypto asset users. The legislation aims to implement EU directives on tax transparency by requiring crypto asset service providers to register and report user identities, tax residency status, tax identification numbers, and transaction-level data, thereby strengthening cross-border tax information exchange and combating tax evasion.

Privacy advocates argue that the scope of data collection is overly broad and may pose security risks, while some smaller crypto businesses are concerned that rising compliance costs will undermine the competitiveness of the local fintech industry.