Greece Compliance Report

Generated 2026-09-22

Comprehensive Framework

Regulatory Overview

Regulatory Status: Dedicated crypto/VA legislation, licensing regime, active enforcement
Key Regulator(s): Hellenic Capital Market Commission, Ministry of Finance, Bank of Greece
Primary Legislation: The European Union’s 5th Anti-Money Laundering Directive (5AMLD), implemented in, The Income Tax Law (Article 7, Paragraph 4) addresses the taxation of income fro, The Income Tax Law stipulates that income derived from the sale or exchange of d, Greece has not enacted a comprehensive national cryptocurrency law, but the EU's, Greece is an EU member state, and EU regulations have direct effect in Greek law, Authorisation Directive, The statutory basis for the publication of EU law, which directly affects Greece, Under the EU MiCA regulation applicable in Greece, any person or entity providin, The AML framework applicable to crypto-assets in Greece is based on EU directive, Regulation - 1435/2003 - EN - EUR-Lex
Travel Rule: Adopted — Threshold: ,
Tax Reporting: If an individual buys and sells cryptocurrency occasionally, not as a business activity, the gains are generally not explicitly subject to capital gains tax under the current framework, as crypto is not listed under the specific types of assets (e.g., shares, securities) that attract capital gains tax (which is 15% for transfers of securities and shares).. Important Caveat: This interpretation can be complex. If the activity is deemed regular, organized, or substantial enough to constitute a "business activity," the individual would be considered a professional trader and subject to income tax (see below). The distinction between "sporadic" and "business activity" is crucial and often determined on a case-by-case basis by tax authorities.. If an individual or a company engages in crypto trading as a regular business activity (e.g., frequent buying/selling with a profit motive, mining, staking, providing crypto services), then any profits derived are considered business income.. Corporate Income Tax: For legal entities (companies), profits from crypto activities are subject to the standard corporate income tax rate, which is currently 22%.. Individual Income Tax (Professional Traders): For individuals deemed professional traders, profits are subject to the progressive individual income tax rates, ranging from 9% to 44%, depending on the total annual income.

Key Facts

aml Law 4557/2018 (Government Gazette A' 139/30.07.2018): This is the primary Greek AML/CFT law, transposing the Fourth AML Directive (EU 2015/849). It established the general framework for obliged entities. Law 4734/2020 (Government Gazette A' 199/08.10.2020): This crucial law amended Law 4557/2018 to transpose the Fifth AML Directive (5AMLD) into Greek law. It explicitly expanded the scope of obliged entities to include: Providers engaged in exchange services between virtual currencies and fiat currencies. Providers of custodial wallet services (holding, storing, and transferring virtual currencies on behalf of customers). Any other virtual asset service providers as defined by the Financial Action Task Force (FATF) recommendations and subsequent EU legislation. Law 4816/2021 (Government Gazette A' 118/09.07.2021): This law further amended Law 4557/2018, primarily to transpose aspects of the Sixth Anti-Money Laundering Directive (6AMLD) concerning the criminalization of money laundering offenses. Law 4991/2022 (Government Gazette A' 214/11.11.2022): This law made further amendments to Law 4557/2018, primarily to incorporate the changes from the EU Regulation on information accompanying transfers of funds and certain crypto-assets (Travel Rule). Natural Persons: Obtain and verify the customer's full name, date of birth, place of birth, nationality, permanent address, and unique identification number (e.g., ID card, passport number). Verification must be done using reliable, independent source documents or data (e.g., government-issued photo ID, proof of address).
enforcement Entity Targeted: A large international organized crime group operating "boiler rooms" (call centers) that defrauded investors across Europe, including Greece, using fake cryptocurrency investments. Violation Type: Investment fraud, aggravated fraud, money laundering, participation in a criminal organization. Outcome: Multiple arrests (at least 15 in Greece, others internationally), dismantling of call centers, freezing of assets. Criminal proceedings are ongoing. Entity Targeted: Individuals operating an illegal cryptocurrency mining farm. Violation Type: Theft of electricity, illegal operation. While not a direct "crypto violation," it's significant as it involves crypto-related activities leading to criminal charges. Outcome: Arrests, charges filed for electricity theft, seizure of equipment. Criminal proceedings. Entity Targeted: Individuals involved in a fraudulent scheme that lured victims into investing in fake cryptocurrency platforms. Violation Type: Fraud, money laundering, establishment/participation in a criminal organization. Outcome: Arrests, ongoing investigations and criminal proceedings. Outcome: Multiple arrests (at least 15 in Greece, others internationally), dismantling of call centers, freezing of assets. Criminal proceedings are ongoing. Outcome: Arrests, charges filed for electricity theft, seizure of equipment. Criminal proceedings. Outcome: Arrests, ongoing investigations and criminal proceedings. Legal Basis: Greek Law 4557/2018 (Articles 40-45) and other specific laws implementing EU sanctions.
general Transferable securities: Classes of securities which are negotiable on the capital market, with the exception of instruments of payment. This is a broad category that can include shares in companies, bonds, and other forms of securitized debt or equity. Units in collective investment undertakings: Interests in funds managed by an asset manager. Options, futures, swaps, forward rate agreements, and any other derivative contracts relating to securities, currencies, interest rates or yields, emission allowances, or other underlying assets, indices, or measures. The nature of the rights conferred: Does it represent ownership, a debt, a share in profits, voting rights, a claim on assets, or a right to convert into any of these? Transferability: Is it negotiable on the capital market? Investment expectation: Is there an expectation of a return on investment, rather than just access to a product or service? Equity Tokens: Tokens that represent ownership interests in a company, granting rights such as voting rights, dividend payments, or a share in the company's profits or liquidation proceeds. These are treated as shares. Debt Tokens: Tokens that represent a debt obligation, similar to bonds or debentures. They typically entitle holders to regular interest payments and/or repayment of the principal amount.
licensing Law 4557/2018 (as amended), which transposed the EU's 5th Anti-Money Laundering Directive (AMLD5) and 6th Anti-Money Laundering Directive (AMLD6) into national law. This law defines "providers of services of virtual assets" and mandates their registration. HCMC Decision No. 2/902/10.03.2021 (and subsequent amendments), which provides further details on the registration process and ongoing obligations. Exchanges: Providers engaged in the exchange between virtual assets and fiat currencies, or between one or more virtual assets. Custody Providers: Providers that offer custodian wallet services, holding, storing, and transferring virtual assets or private cryptographic keys on behalf of customers. Transfer Services: Services enabling the transfer of virtual assets. Other VASP Activities: Participation in and provision of financial services related to an issuer’s offer and/or sale of virtual assets, and providing virtual asset safekeeping and administration services. Establish and implement robust AML/CFT policies, procedures, and internal controls in line with national and EU requirements. Conduct customer due diligence (CDD) and enhanced due diligence (EDD) where necessary.
sanctions Source: UN Security Council Resolutions. Mechanism: These resolutions are legally binding on all UN member states, including Greece. The EU then implements these resolutions into its own legal framework, making them directly applicable within Greece. Focus: Target specific individuals (e.g., terrorists, those involved in proliferation of WMDs), entities, or entire regimes (e.g., North Korea, Iran, specific regions). Obligations: Freezing of funds and economic resources, travel bans, arms embargoes. Relevance to Crypto: If a UN-sanctioned individual or entity attempts to use or hold virtual assets, those assets are subject to the same freezing and reporting obligations as traditional financial assets. Source: EU Council Regulations and Decisions. Mechanism: EU sanctions implement UN resolutions but also include autonomous EU sanctions regimes (e.g., in response to the situation in Ukraine, human rights violations, cyberattacks, terrorism). EU Regulations are directly applicable and binding in their entirety in all member states, without the need for national implementing legislation (though national laws define penalties). Key Regulations (Examples):
securities Cryptocurrency activity in Greece is legal, but the regulatory framework is still evolving, with no comprehensive national crypto law enacted as of 2025–2026; instead, EU-level regulations (MiCA, MiFID II) apply directly and are supplemented by Greek administrative guidance EUR-Lex - 62005CJ0430_SUM - EN - EUR-Lex Licensing is required for investment services involving digital assets that qualify as securities under the MiFID II framework, with no standalone "crypto license" issued by Greek authorities as of the latest available data Directive - 2014/65 - EN - mifid ii - EUR-Lex - Europa.eu The practical reality is that firms must navigate a fragmented regime applying existing securities laws, AML rules, and EU directives until MiCA becomes fully applicable, creating compliance uncertainty and higher operational risk L_2017174EN.01002201.xml The Hellenic Capital Market Commission (HCMC) is the competent authority responsible for supervising securities markets, investment services, and collective investment schemes in Greece, operating under the Ministry of Finance EUR-Lex - 62005CJ0430_SUM - EN - EUR-Lex The HCMC derives its powers from Greek securities legislation implementing EU directives, including Law 3606/2007 on investment services and regulated markets, which transposes MiFID I, and subsequent amendments transposing MiFID II (Directive 2014/65/EU) Directive - 2014/65 - EN - mifid ii - EUR-Lex - Europa.eu Directive 2001/34/EC on the admission of securities to official stock exchange listing and on information to be published on those securities is a core piece of the EU legal framework that Greece applies, as confirmed by the Greek Council of State (Symvoulio tis Epikrateias) in its reference to the Court of Justice of the European Union EUR-Lex - 62005CJ0430_SUM - EN - EUR-Lex The Bank of Greece is the central bank and, under EU law, participates in the European System of Central Banks (ESCB); it has been consulted on matters related to financial regulations including crypto-assets, per the European Central Bank's opinion procedures EN ECB-PUBLIC OPINION OF THE EUROPEAN CENTRAL BANK of 25 August 2022 Greece is a member of the Financial Action Task Force (FATF) through its EU membership and is also a member of the Council of Europe's MONEYVAL committee, which conducts mutual evaluations of anti-money laundering frameworks L_2017174EN.01002201.xml
status Greece lacks specific legislation directly targeting cryptocurrencies and digital assets, resulting in a regulatory gray area where these financial instruments are not expressly regulated by current statutes. The existing regulatory framework primarily addresses financial services and money laundering, indirectly affecting digital asset activities through broader financial crime laws. The Hellenic Republic's approach to digital assets is characterized by a cautious wait-and-see stance, with ongoing monitoring by financial authorities and potential future regulatory developments. Key challenges include the absence of clear licensing requirements for cryptocurrency exchanges and service providers, and the need for robust anti-money laundering (AML) and know-your-customer (KYC) procedures to mitigate financial crime risks. Taxation of cryptocurrency transactions in Greece is ambiguous, with the Income Tax Law providing limited guidance on digital asset income, necessitating further clarification from tax authorities. The absence of explicit regulatory clarity poses risks for market participants, including potential regulatory arbitrage and compliance uncertainties, while also presenting opportunities for innovative financial services if a supportive regulatory environment emerges. Stakeholders, including cryptocurrency exchanges, wallet providers, and investors, must navigate the current regulatory landscape with caution, staying informed about evolving regulatory signals and proactively addressing compliance requirements. The primary regulatory framework governing financial services in Greece is the Banking and Financial Activities Law (BFAL), which includes provisions related to money laundering and terrorist financing that indirectly affect digital asset activities.
tax If an individual buys and sells cryptocurrency occasionally, not as a business activity, the gains are generally not explicitly subject to capital gains tax under the current framework, as crypto is not listed under the specific types of assets (e.g., shares, securities) that attract capital gains tax (which is 15% for transfers of securities and shares). Important Caveat: This interpretation can be complex. If the activity is deemed regular, organized, or substantial enough to constitute a "business activity," the individual would be considered a professional trader and subject to income tax (see below). The distinction between "sporadic" and "business activity" is crucial and often determined on a case-by-case basis by tax authorities. If an individual or a company engages in crypto trading as a regular business activity (e.g., frequent buying/selling with a profit motive, mining, staking, providing crypto services), then any profits derived are considered business income. Corporate Income Tax: For legal entities (companies), profits from crypto activities are subject to the standard corporate income tax rate, which is currently 22%. Individual Income Tax (Professional Traders): For individuals deemed professional traders, profits are subject to the progressive individual income tax rates, ranging from 9% to 44%, depending on the total annual income. Mining: Income from crypto mining is generally considered business income. Individuals: Subject to progressive individual income tax rates (9-44%). Businesses: Subject to corporate income tax (22%).
travel rule Cryptocurrency and digital asset activities are legal in Greece but subject to comprehensive AML/CFT regulation implementing EU directives, with no dedicated crypto-specific licensing regime yet in force, though the EU Markets in Crypto-Assets Regulation (MiCA) framework will apply directly from 2024-2025 Regulation - 2023/1113 - EN - EUR-Lex Registration with the Hellenic Capital Market Commission is required for crypto-asset service providers, including exchanges, wallet providers, and custodian services, with a mandatory registration process that has existed since 2020 implementing the 5th Anti-Money Laundering Directive DIRECTIVE (EU) 2015/ 849 OF THE EUROPEAN ... - EUR-Lex The travel rule for crypto transfers is mandated by EU Regulation 2023/1113, which entered into force on 29 June 2023 and applies from 30 December 2024, requiring VASPs to collect, verify, and transmit originator and beneficiary information for transfers exceeding certain thresholds Regulation - 2023/1113 - EN - EUR-Lex Practical reality: While the regulatory framework exists, enforcement and supervision of crypto-asset service providers remain developing, with the HCMC actively registering entities and the Anti-Money Laundering, Counter-Terrorist Financing Authority coordinating enforcement, but no crypto-specific tax guidance has been issued separately from general tax principles Regulation - EU - 2024/1624 - EN - AMLR - EUR-Lex The primary AML/CFT legal framework for Greece is implemented through national legislation transposing Directive (EU) 2015/849 (4th AML Directive) as amended by Directive (EU) 2018/843 (5th AML Directive), which explicitly includes "providers engaged in exchange services between virtual currencies and fiat currencies" and "custodian wallet providers" as obliged entities DIRECTIVE (EU) 2015/ 849 OF THE EUROPEAN ... - EUR-Lex Greek Law 4557/2018, as amended by Law 4734/2020, constitutes the national transposition of the 4th and 5th AML Directives, designating the Hellenic Capital Market Commission (HCMC) as the competent supervisory authority for crypto-asset service providers, the Bank of Greece for credit institutions, and the Hellenic Financial Intelligence Unit (FIU) for receiving suspicious transaction reports DIRECTIVE (EU) 2015/ 849 OF THE EUROPEAN ... - EUR-Lex The Anti-Money Laundering, Counter-Terrorist Financing and Financial Crime Prevention Authority (formerly known as the Hellenic Financial Intelligence Unit) operates under the Greek Ministry of Finance and serves as Greece's financial intelligence unit with broad investigative and enforcement powers Regulation - EU - 2024/1624 - EN - AMLR - EUR-Lex EU Regulation 2023/1113 on information accompanying transfers of funds and certain crypto-assets (the "Travel Rule" Regulation) is directly applicable in Greece without transposition, having entered into force on 29 June 2023 with full application from 30 December 2024, requiring Virtual Asset Service Providers (VASPs) to ensure transfers of crypto-assets are accompanied by originator and beneficiary information Regulation - 2023/1113 - EN - EUR-Lex

Sources

This report is AI-generated from publicly available regulatory sources. Last updated: 2026-09-06. View full profile