DAC8 Directive and Cryptocurrencies: What Your Exchanges Are Going to Know About You and How to Get Ready

The tax regulation of cryptocurrencies in Europe is entering a new phase. Until now, most of the reporting obligations fell on the taxpayer: you were the one who had to voluntarily declare your operations, and the ability of the authorities to monitor depended largely on specific requests and limited cross‑referencing of data.

With the DAC8 Directive, this scenario changes from the ground up. Exchanges, crypto platforms and certain providers of digital asset services will become mandatory reporters, periodically sending standardized detailed information about their users’ transactions to the tax authorities of EU Member States.

In this guide we explain exactly what DAC8 is, who it affects, what information will be reported and how you should prepare if you already trade cryptocurrencies or plan to do so in the coming years.

The DAC8 Directive is the eighth amendment of the Administrative Cooperation Directive of the European Union. Its main aim is to extend the automatic exchange of tax information to include crypto assets, aligning the EU with the international CARF (Crypto‑Asset Reporting Framework) standard from the OECD.

The logic behind DAC8 is simple: cryptocurrencies have ceased to be a marginal phenomenon and, without a solid information framework, they become an ideal channel for tax opacity. The EU intends to close this gap by requiring intermediaries to report user data in a standardized, automatic and multilateral way.

In practice, DAC8 places crypto service providers in a role similar to banks and traditional brokers under rules such as the CRS. If you have traded shares or investment funds, you know that your bank automatically communicates your transactions to the tax agency. With DAC8, cryptocurrency exchanges will do exactly the same.

DAC8 is not intended only for large exchanges. The directive uses a broad concept of “Crypto‑Asset Service Providers” (CASP), which includes both centralized entities and operators acting on decentralized infrastructure, provided that there is an identifiable point of contact with the user.

Entities required to report

Affected taxpayers

For a taxpayer resident in Spain, this means that their activity on platforms that meet DAC8 criteria will be potentially reported to the AEAT, even if the company is foreign. If you operate on Binance (based in Malta), Coinbase (Ireland) or any other exchange with a presence in the EU, your data will be shared with the Spanish Tax Agency.

Even users who operate on exchanges outside the EU but have European tax residency may be indirectly affected, since DAC8 promotes bilateral agreements with third countries.

The core of DAC8 lies in the detail and standardization of the tax information that will be sent to the national authorities. The level of detail is significantly higher than what the AEAT has handled so far with respect to crypto assets.

Information about the user

Information about the operations

This level of detail will make it much more difficult to omit transactions or make mistakes in the return, since the AEAT will have its own information for cross‑checking. If you declare that you sold 0.5 BTC in June but DAC8 reports that you sold 0.7 BTC, the discrepancy will be automatically detected.

The implementation of DAC8 follows a defined timeline that is already underway:

Practical implication: Any transaction made from January 2025 has a high probability of being reported to the AEAT. The 2025 tax year will be the first in which the tax authority will have automated and detailed information about Spanish taxpayers’ crypto activity.

This means that if you are reading this article in 2025, your current transactions are already being recorded under the DAC8 framework by the exchanges you use.

DAC8 is not a standalone regulation. It is integrated into a broader regulatory ecosystem that is transforming the treatment of crypto assets in Europe and globally.

Integrated regulatory framework

DAC8 is the piece that allows EU countries to share tax information about cryptocurrencies with the same degree of standardization that already exists in banking under CRS. While MiCA establishes who can legally operate as an exchange in Europe, DAC8 defines what information those operators must report to the tax authorities.

For the taxpayer, this means that the line between the crypto world and the traditional financial system is definitively blurred in terms of tax transparency.

The AEAT has been increasing its attention on cryptocurrency taxation for years. The creation of Modelo 721 to declare crypto assets abroad was a first step. DAC8 represents a qualitative leap in control capacity.

New capabilities of the AEAT under DAC8

Complete traceability of crypto operations: The tax authority will be able to reconstruct your transaction history on any European exchange without needing to request information from you. What previously required requesting documentation from the taxpayer will now arrive automatically.

Automatic matching between what is declared and what is reported: The AEAT systems will be able to compare your income tax return with DAC8 data in an automated way, identifying discrepancies without human intervention.

Identification of omissions and discrepancies: If you have omitted transactions in your return, whether through ignorance or intentionally, the chances of detection increase dramatically.

Reduction of the margin for errors arising from incomplete data: You will no longer be able to argue that “you didn’t have the data” or that “the exchange didn’t provide information.” The tax agency will have those data.

If you have not reviewed your data or your calculation processes, it is advisable to do so now, especially if you operate on multiple exchanges or use DeFi. Our guide on how to clean crypto datasets before filing a return can help you prepare your information.

To understand the practical impact of DAC8, let’s see how it affects different user profiles:

User of a single centralized exchange

Profile: Operates exclusively on Binance, makes purchases, sales and some staking.

DAC8 impact: Their activity will be reported almost entirely, making it easier for the AEAT to reconstruct their movements. The information will include every purchase, every sale, the staking yields and the inflows and outflows of funds.

Recommendation: Make sure that your return matches exactly what the exchange will report. Consult our Binance export guide to get the same data.

User with multiple exchanges

Profile: Operates on Binance, Coinbase and Kraken, moving funds between platforms as convenient.

DAC8 impact: The AEAT will receive data from all three exchanges and will be able to cross positions, detecting inconsistencies between final balances and transactions. Transfers between exchanges will be recorded as outflows in one and inflows in another.

Recommendation: Clearly document internal transfers to distinguish them from transactions with third parties. Keep a consolidated record that unifies all sources.

CEX + DeFi operations

Profile: Uses centralized exchanges as an on/off ramp but operates mainly on Uniswap, Aave or other DeFi protocols.

DAC8 impact: Although DAC8 has limitations in covering purely decentralized protocols, the information coming from exchanges allows to deduce the inflows and outflows towards DeFi. If you send ETH from Coinbase to a wallet and that wallet interacts with Uniswap, the outgoing flow is recorded.

Recommendation: Do not assume that DeFi operations are “invisible.” Supplement with exports from blockchain explorers as explained in our Metamask guide. Consider the specific taxation of DeFi.

The risks under DAC8 do not come from new taxes, but from the increased ability to detect discrepancies. The most common problems will be:

Transactions omitted that do appear in DAC8 data

Whether due to forgetfulness, not considering certain transactions as taxable, or lack of your own records, undeclared transactions will appear in the data cross‑check. This includes:

• Sales that were not declared as capital gains
• Crypto‑to‑crypto exchanges mistakenly considered “non taxable”
• Staking or earn yields not included in the return

Capital gains incorrectly calculated due to errors in datasets

Even declaring all transactions, an incorrect FIFO calculation can generate discrepancies. If your declared capital gain does not match what the AEAT calculates from DAC8 data, you will receive a query.

The most common errors when declaring cryptocurrencies include calculation methodology issues that DAC8 will make more visible.

Final balances inconsistent with the reported movements

If your declaration of the Modelo 721 does not match the balances reported by the exchanges, the discrepancy will be detected. For example, declaring a balance of 2 BTC when the exchanges report movements that result in 3 BTC.

Lack of documentation to support tax calculations

DAC8 increases the requirement to be able to demonstrate how you arrived at the declared figures. If the tax authority questions your calculation, you will need traceable documentation to back it up.

Preparing for the DAC8 environment does not require extraordinary actions, but rather adopting good practices in tax data management that should be standard for any cryptocurrency investor.

Recommended best practices

Centralize all your crypto data exports: Maintain an organized repository with the exports from all the exchanges and wallets you operate with. Do this periodically, not just at the end of the tax year.

Keep original copies and document export dates: Always keep the original CSV files unmodified. Document when each export was made in order to demonstrate traceability.

Normalize dates, currencies and types of operation: Each exchange uses different formats. Standardize the data under a common standard before calculating. Our guide to cleaning datasets details this process.

Unify your datasets and remove duplicates: When you combine data from multiple sources, verify that there are no duplicate transactions that distort the calculations.

Keep methodological documentation: Document how you arrived at each figure. Which sources you used, which prices you applied, which classification criteria you followed.

DAC8 preparation checklist

These practices are essential if you operate with multiple exchanges, use DeFi or carry out a high volume of transactions. For users with complex operations, our portfolio analysis service automates much of this process.

At Cleriontax we combine crypto tax with data engineering. Our approach is especially prepared for the new environment established by DAC8:

Reconstruct the taxpayer’s activity from heterogeneous sources: We consolidate data from multiple exchanges, wallets and DeFi protocols into a unified and verified dataset.

Normalize and audit datasets to avoid discrepancies with DAC8: We apply the same data standards that exchanges will report, minimizing the risk of discrepancies.

Produce traceable and defensible reports: Every report we prepare includes complete methodological documentation that allows the figures to be defended before any query.

Anticipate the impacts of new regulations: We keep our knowledge up to date about DAC8, MiCA and other regulations to adapt our services to new requirements.

If your operations are complex or you prefer to delegate the technical management of your crypto tax data, our tax settlement services and specialized tax advisory are designed to ensure compliance in the new regulatory framework.

Does DAC8 affect my operations in DeFi?

Directly, DAC8 has limitations in covering purely decentralized protocols where there is no identifiable intermediary. However, it does have an indirect impact: the inflows and outflows of funds from exchanges to DeFi wallets are recorded. In addition, the regulation considers that intermediaries with some degree of centralization (certain aggregators, custodial bridges, etc.) could become obligated entities.

What happens with non‑European exchanges?

DAC8 applies directly to exchanges with a presence in the EU. For exchanges outside the EU, it depends on bilateral agreements. However, the global trend is towards adoption of the CARF standard, so more and more jurisdictions will exchange similar information.

Do I have to do something different in my return?

The way of filing does not change, but the importance of doing it correctly does. The same boxes of Modelo 100, the same FIFO method, but with far less tolerance for errors or omissions.

Can I be penalized for discrepancies between my return and DAC8 data?

Yes, the same penalties that already exist for incorrect returns: from surcharges and late‑payment interest to penalties of 50–150% of the evaded amount in cases of intent. DAC8 does not create new penalties, but it dramatically increases the likelihood of detection.

The DAC8 Directive represents a point of no return in the taxation of cryptocurrencies in Europe. The key for the taxpayer will no longer just be to file a return, but to be able to demonstrate and defend the information declared in an environment where the tax authority will have its own standardized and automatic data.

Preparing means having clean data, reproducible processes and solid documentation. It is a structural change in how tax obligations are managed in the crypto ecosystem. Users who already maintained good record‑keeping and documentation practices will find the transition easy. Those who operated with less rigor will have to adapt.

At Cleriontax we have been applying the documentation and traceability standards that DAC8 now requires for years. If you need help to prepare your crypto operations for this new framework, contact our team for an initial assessment.

Disclaimer: This article is for informational and educational purposes. It does not constitute personalized tax advice. Tax regulations are subject to change and every individual situation is unique. Always consult with a professional tax advisor before making any tax decisions.

Last updated: December 2025

Published by: Cleriontax Team – Experts in Crypto Taxation and Data Analysis