The Bulgarian Parliament passes a bill: the tax department will gain full access to the data of cryptocurrency users
On September 9, the National Assembly of Bulgaria passed an amendment to the Law on Tax and Social Security Procedures with 149 votes in favor, 0 against, and 10 abstentions, which will allow the Bulgarian National Revenue Agency to obtain detailed information about cryptocurrency asset users. The bill was approved by a vote in the 240-seat parliament.The amendment implements two European Union (EU) directives, requiring cryptocurrency-related businesses to register and report users' names, addresses, dates and places of birth, tax residency, and tax identification numbers to the Bulgarian National Revenue Agency, as well as submit transaction data for various cryptocurrency assets, including gross amounts received, transaction quantities, the number of fiat currency trades, and cryptocurrency exchange situations. Privacy advocates criticized the broad scope of data collection, arguing that mandatory disclosure of personal information could pose security risks. Cryptocurrency traders and small businesses expressed that the registration and reporting requirements would increase compliance costs; supporters of the bill believe it aligns with EU standards and helps curb tax evasion. The relevant directives require EU member states to complete adoption by December 31, 2025.
