Our goal at Venga is to ensure transparency, security, and full regulatory compliance for all transactions. This FAQ explains DAC8, the EU's new tax reporting framework for crypto-assets, the information we are required to report, and what (if anything) you need to do.
What is DAC8?
DAC8 is the eighth amendment to the EU Directive on Administrative Cooperation in tax matters (Directive (EU) 2023/2226, adopted on 17 October 2023). It extends the automatic exchange of tax information, which has applied to traditional financial accounts for years, to crypto-assets.
From 1 January 2026, Crypto-Asset Service Providers (CASPs) such as Venga are legally required to collect, verify, and report information about their users and their crypto-asset transactions to tax authorities on an annual basis. Before DAC8, tax authorities could generally only obtain this information on request, case by case. Under DAC8, the exchange is automatic and standardized across all 27 EU member states.
Important: DAC8 is a reporting framework. It does not introduce any new taxes and it does not change how crypto-assets are taxed in your country of residence.
What is CARF, and how does it relate to DAC8?
The Crypto-Asset Reporting Framework (CARF) is the global standard developed by the OECD, published in October 2022. DAC8 is the EU's implementation of CARF.
While DAC8 applies within the European Union, CARF extends equivalent reporting rules worldwide. As of early 2026, 76 jurisdictions have committed to implementing CARF:
| First exchanges | Jurisdictions |
|---|---|
| 2027 | 47 jurisdictions, including the United Kingdom, Japan, South Korea, Norway, and Brazil. All EU member states exchange from 2027 under DAC8 itself |
| 2028 | 28 jurisdictions, including Switzerland, Canada, Singapore, the United Arab Emirates, and Australia |
| 2029 | United States |
In practice, this means crypto-asset reporting is becoming a global standard, and tax authorities in participating countries will automatically share information across borders.
Does DAC8 reporting apply to me?
DAC8 applies to you if you are a tax resident of an EU member state and use the services of a CASP such as Venga. The key criterion is your country of tax residence, not where the provider is based or where you opened your account.
It applies to both individuals and entities. A small number of user types are excluded, such as publicly listed companies, governmental entities, central banks, and regulated financial institutions.
What information will Venga report?
As a regulated CASP, Venga is a Reporting Crypto-Asset Service Provider (RCASP) under DAC8. Once a year, we are required to report to the Spanish tax administration (AEAT), which then automatically shares the information with the tax authority of your country of tax residence.
The annual report contains:
Who you are
- Full name, residential address, and date of birth (for individuals)
- Country (or countries) of tax residence
- Tax Identification Number (TIN) for each country of tax residence
Your activity, aggregated by crypto-asset and by year
- Purchases and sales of crypto-assets against fiat currency (aggregate amounts and number of units)
- Exchanges between crypto-assets, including swaps (aggregate value and number of units)
- Transfers of crypto-assets to and from your Venga account, including transfers to self-hosted wallets (aggregate value and number of transfers)
Under Spain's implementing rules, year-end account balances are also reported.
Reporting is aggregated per crypto-asset and per transaction category. It is not a line-by-line export of your account history.
Why is Venga asking me to confirm my tax residency?
DAC8 requires us to collect a tax residency self-certification from every user:
- New users: the self-certification is part of onboarding from 1 January 2026.
- Existing users: we are required to collect it during 2026, before the regulatory deadline of 1 January 2027. We will contact you in the app or by email if any information is missing.
We must also verify that your self-certification is consistent with the rest of the information in your account (for example, your KYC data).
If the information is not provided: DAC8 obliges us to send reminders, and after two reminders and a minimum 60-day window, to block reportable transactions (buying, selling, swapping, and transferring crypto-assets) until the self-certification is received. This restriction is a directive requirement that applies to all EU CASPs, not a Venga policy choice.
When does DAC8 reporting start?
| Date | What happens |
|---|---|
| 1 January 2026 | Data collection begins. Self-certification required for all new users |
| During 2026 | Existing users complete their tax residency self-certification |
| 2027 | Venga files its first annual report with the AEAT, covering activity from 1 January to 31 December 2026 |
| By 30 September 2027 | EU tax authorities exchange the 2026 information with each other |
Note: Venga reports to the Spanish tax administration (AEAT). If you are a tax resident of another EU country, your local tax authority receives your information automatically from the AEAT, generally by 30 September 2027 for the 2026 reporting year. The national deadlines above apply to providers filing directly in those countries and are shown for reference.
How are privacy and data protection addressed?
All information collected and reported under DAC8 is handled in line with GDPR:
- You will be informed: we are required to notify you before your information is reported for the first time, and we will do so.
- Encrypted and stored securely: data is transmitted using advanced encryption protocols and retained in compliance with strict data protection regulations.
- Used exclusively for compliance: the data is reported solely to meet our legal obligations under DAC8 and is not repurposed for any other use.
- Your GDPR rights remain intact: including the right to access your data and request the correction of inaccurate information.
What do I need to do?
For most users, very little:
- Keep your details up to date. Make sure your country of tax residence and Tax Identification Number (TIN) in your Venga profile are current and accurate.
- Respond to our self-certification request. If we ask you to confirm or complete your tax residency information, please do so promptly to avoid any restriction on your account.
- Use Venga as usual. Nothing changes in how you buy, sell, swap, deposit, or withdraw crypto-assets.
DAC8 does not change your personal tax obligations. If you have questions about your individual tax situation, please consult a tax advisor or your local tax authority, as Venga cannot provide tax advice.
Still have questions?
Contact our support team at support@venga.com or through the in-app chat.