Under DAC8, all Reporting Crypto-Asset Service Providers must register with tax authorities before beginning operations or providing services to EU residents. This article explains the registration requirements.

Who Must Register

Registration is required for:

  • CASPs established in any EU member state
  • Non-EU CASPs serving EU residents
  • CASPs authorized under MiCA
  • Any entity meeting the RCASP definition
Non-EU CASPs Take Note

If you operate outside the EU but have EU customers, you must register in an EU member state. Failure to register can result in fines up to EUR 200,000.

Registration Process

The registration process typically involves:

  1. Identifying the correct registration authority
  2. Submitting required information about the entity
  3. Providing details of compliance officer
  4. Describing services offered
  5. Confirming compliance capabilities

Non-EU CASPs

Non-EU CASPs serving EU residents must:

  • Register in a single EU member state
  • Appoint an EU representative if required
  • Comply with all DAC8 reporting requirements
  • Subject themselves to EU enforcement jurisdiction

Timeline

Registration deadlines:

  • Existing CASPs: Before January 1, 2026
  • New CASPs: Before commencing operations
  • Non-EU CASPs: Before serving EU residents

Penalties for Non-Registration

Operating without registration can result in:

  • Fines up to EUR 200,000
  • Prohibition of services
  • Criminal liability for officers

Conclusion

Early registration is essential for DAC8 compliance. Non-EU CASPs should carefully evaluate their EU exposure and registration obligations.

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