Austria's National Council accepted Bill No. 306 dB for further consideration, introducing reporting, due diligence, and registration requirements aligned with EU Directive 2023/2226 (DAC8), the amended common reporting standard (CRS), and the Crypto-Asset Reporting Framework (CARF), effective January 1, 2026.

Crypto Asset Reporting

The bill establishes comprehensive obligations for crypto-asset service providers, including identification of entities subject to new requirements and clarification of reporting and recordkeeping duties for providers and their users. Crypto-asset providers must meet due diligence obligations, including obtaining self-disclosures from existing users by January 1, 2027.

The legislation introduces the Crypto-Asset Reporting Act (Krypto-Meldepflichtgesetz), requiring mandatory registration for crypto operators in a central database established by the European Commission. Providers failing to register within required timeframes face administrative penalties and potential exclusion from services.

Expanded Information Exchange

The bill extends the automatic exchange of information under CRS to include electronic financial products and central bank digital currencies. Austria will also exchange information on non-custodial dividends and advance cross-border rulings under the enhanced framework.

Penalties for non-compliance include fines up to €200,000 for intentional violations of reporting or registration obligations, with reduced penalties of €100,000 for gross negligence. Due diligence violations carry fines up to €20,000.

Context

The legislation implements EU Directive 2023/2226, part of broader European efforts to combat tax avoidance through enhanced transparency in digital asset transactions. The bill aligns Austria with international OECD standards for automatic exchange of tax information, extending existing CRS frameworks to capture the growing crypto economy.