Griechenland

Disclaimer: The regulatory information provided below is for general informational purposes only and may not reflect the most current legal developments. Cryptocurrency regulations are rapidly evolving and can change frequently. This information should not be considered legal or tax advice. Before making any business or investment decisions, please consult with qualified legal, tax, or financial professionals familiar with your specific jurisdiction and circumstances. Always verify current regulations with official government sources and regulatory bodies.

Legal Classification & Regulatory Framework

Cryptocurrency Status

In Greece, cryptocurrency is legal to own, trade, and use, though it is not recognized as legal tender. Digital assets are classified as property rather than currency, meaning merchants are not obligated to accept Bitcoin or other cryptocurrencies as payment. The Greek legal framework treats cryptocurrencies as digital assets subject to various regulatory requirements, primarily derived from European Union directives rather than standalone national cryptocurrency legislation.

The foundational legal recognition of blockchain and distributed ledger technology (DLT) came through Law 4961/2022, known as the Emerging Technologies Law, which provided the first formal legal definitions for blockchain and DLT under Greek law. This was further expanded by Law 5113/2024, the DLT Securities Law, which established a comprehensive framework for the issuance and trading of financial instruments through distributed ledger technology. These laws significantly increased legal certainty for blockchain-based activities in Greece.

As an EU member state, Greece has fully implemented the Markets in Crypto-Assets Regulation (MiCAR), which became directly applicable across the European Union. Law 5193/2025 completed Greece’s national adaptation to align with the MiCAR framework, designating supervisory authorities and establishing authorization procedures for crypto-asset service providers operating in the Greek market.

Tax Treatment

Greece has established a structured approach to cryptocurrency taxation. Capital gains realized from cryptocurrency transactions are subject to a flat rate of fifteen percent (15%) for individual investors. This applies to profits made from selling cryptocurrency for fiat currency (such as euros), exchanging one cryptocurrency for another, or using cryptocurrency to purchase goods and services. There is no distinction between short-term and long-term capital gains for cryptocurrency purposes.

For businesses and professional traders, cryptocurrency profits are taxed at the standard corporate income tax rate of twenty-two percent (22%). Mining and staking rewards are generally treated as ordinary income and taxed according to the progressive income tax scale, which ranges from nine percent (9%) for lower income brackets up to forty-four percent (44%) for higher earners.

Capital losses from cryptocurrency disposals can generally be offset against capital gains within the same tax year, with provisions for carrying forward unused losses for up to five years. Importantly, cryptocurrency transactions are exempt from Value Added Tax (VAT), following the European Court of Justice ruling that treats cryptocurrency sales similarly to transactions involving traditional currencies.

Greek taxpayers are required to maintain detailed records of all cryptocurrency transactions, including purchase dates, amounts, counterparties, and euro values at the time of each transaction. Those holding significant cryptocurrency assets in foreign wallets or exchanges may have additional reporting obligations regarding foreign assets.

Regulatory Oversight

Several government authorities share responsibility for cryptocurrency regulation in Greece, each with distinct supervisory functions:

The Hellenic Capital Market Commission (HCMC) serves as the primary regulatory body for cryptocurrency oversight. The HCMC is responsible for registering and supervising Crypto-Asset Service Providers (CASPs), maintaining the official registry of authorized providers, and enforcing compliance with market abuse provisions. All entities wishing to provide cryptocurrency exchange services or custodial wallet services in Greece must register with the HCMC.

The Bank of Greece (BoG) shares supervisory responsibilities, particularly for entities involved in payment systems, e-money operations, and crypto-assets that present systemic risk or have financial characteristics. The BoG has specific oversight of asset-referenced tokens (ARTs) and electronic money tokens (EMTs) under the MiCAR framework.

The Hellenic Financial Intelligence Unit (FIU) handles the analysis of Suspicious Transaction Reports and conducts investigations into potential money laundering or illicit financial activity involving cryptocurrency. All crypto-asset service providers must report suspicious transactions to this authority.

The regulatory framework is anchored in several key pieces of legislation, including Law 4557/2018 (the AML Law), which implements EU Anti-Money Laundering Directives; Law 4734/2020, which brought virtual asset service providers under AML requirements; and Law 5193/2025, which completed Greece’s implementation of MiCAR.

Business Environment

Banking Relationships

The relationship between traditional Greek banks and cryptocurrency businesses has historically been cautious, reflecting patterns seen across much of Europe. However, the regulatory clarity brought by MiCAR implementation has begun to improve conditions for crypto-related businesses seeking banking services.

Traditional Greek banking institutions have generally been conservative in their approach to cryptocurrency clients, though this varies by institution. Cryptocurrency businesses may face additional scrutiny during account opening procedures and ongoing relationship management. The establishment of clear regulatory frameworks and HCMC registration requirements has helped legitimize properly licensed crypto businesses in the eyes of traditional financial institutions.

Digital banking services have expanded significantly in Greece, with several pan-European digital banks and fintech platforms offering services that accommodate both traditional and cryptocurrency-related financial activities. These platforms often provide more flexible solutions for businesses operating in the digital asset space, including multi-currency support and crypto-to-fiat conversion capabilities.

For cryptocurrency businesses establishing operations in Greece, demonstrating full regulatory compliance, maintaining proper HCMC registration, and implementing robust AML/KYC procedures are essential factors in securing and maintaining banking relationships.

Licensing Requirements

Under the current regulatory framework, entities wishing to provide cryptocurrency services in Greece must obtain authorization from the HCMC in accordance with MiCAR requirements. The authorization procedure was formally established through HCMC Decision 8/1059, which sets out detailed requirements for crypto-asset service provider applications.

The licensing process requires applicants to submit comprehensive documentation including: detailed business plans and product descriptions; information on governance structures and management qualifications; evidence of adequate financial resources (ranging from €150,000 to €750,000 depending on business scope); robust IT security frameworks; and comprehensive AML/KYC policies compliant with Law 4557/2018.

The application fee for HCMC registration is €1,500, with an additional annual maintenance levy of €1,000. The HCMC has up to sixty calendar days to process complete applications. Companies must designate a dedicated AML compliance officer and maintain ongoing transaction reporting obligations.

A grandfathering provision allows Virtual Asset Service Providers (VASPs) that were registered under the previous AML-based regime prior to MiCAR implementation to continue operations until the end of the transition period, provided they apply for full MiCAR authorization within the specified timeframe.

Importantly, CASPs authorized in Greece under MiCAR can passport their services throughout the European Economic Area, allowing them to serve customers across EU member states without requiring separate authorizations in each country.

Innovation Support

The Greek government has demonstrated a supportive stance toward blockchain technology and financial innovation, implementing several initiatives to foster development in this sector.

The Bank of Greece Regulatory Sandbox, established under Executive Committee Act 189/2021, allows fintech startups and blockchain companies to test innovative products and services under supervisory oversight for up to six months. Participants receive real-time regulatory feedback, which can streamline the path to full authorization. The sandbox has welcomed various blockchain and DLT-related projects, including tokenized payment systems and stablecoin experiments.

The HCMC Financial Innovation Hub provides a platform for engagement between regulators and emerging fintech solutions, helping authorities understand new business models and technologies while offering guidance to innovators. According to regulatory reports, a significant portion of inquiries to the Hub relate to crypto-assets and blockchain/DLT technologies.

Greece participates actively in European blockchain initiatives, including the European Blockchain Partnership and the European Blockchain Services Infrastructure (EBSI). Greece has been selected to participate in the European Blockchain Sandbox cohort, testing applications such as self-sovereign identity and on-chain credential verification.

The Digital Transformation Bible 2020-2025, issued by the Ministry of Digital Governance, identifies blockchain as a key enabling technology and outlines priorities for its use in public sector applications, including public procurement, identity verification, and supply chain management.

The Hellenic Blockchain Hub functions as a not-for-profit network connecting public and private sector executives to promote blockchain adoption and develop standards and applications across various economic sectors.

Market Characteristics

Adoption Patterns

Cryptocurrency adoption in Greece has shown notable growth, influenced in part by the country’s experience with financial instability and capital controls during the sovereign debt crisis. This history has contributed to increased interest among Greek residents in alternative financial assets and decentralized systems.

Greece has a relatively high concentration of Bitcoin ATMs compared to its population size, providing accessible entry points for retail cryptocurrency purchases. Major international cryptocurrency exchanges serve Greek customers, while a growing number of HCMC-registered domestic platforms cater to local market preferences.

Cryptocurrency trading is particularly popular among younger demographics, with significant activity noted among individuals in their twenties and thirties. The use of digital assets for cross-border transactions and remittances has also gained traction, given Greece’s diaspora connections and tourism-dependent economy.

While merchant acceptance of cryptocurrency remains limited—partly due to the preference for euro transactions and regulatory considerations—awareness and interest continue to grow. Cryptocurrency is increasingly viewed as both an investment asset and a hedge against potential economic uncertainty.

Industry Focus

Greece’s cryptocurrency and blockchain sector, while modest compared to larger European markets, encompasses several areas of activity:

Exchange and Trading Services: Multiple platforms provide fiat-to-crypto exchange services, peer-to-peer trading, and access to global cryptocurrency markets. These range from locally registered operators to international platforms serving Greek customers.

Blockchain Gaming and NFTs: Greece hosts several notable projects in the blockchain gaming space, including platforms focused on play-to-earn models, NFT marketplaces, and Web3 gaming ecosystems.

DeFi and Financial Services: Decentralized finance platforms with Greek connections offer services including lending, borrowing, and yield generation, though users should exercise caution given the evolving regulatory landscape for such services.

Blockchain Consulting and Development: A growing community of blockchain developers and consulting firms provides services including smart contract development, tokenization projects, and enterprise blockchain solutions, often serving clients throughout Europe and beyond.

Maritime and Logistics Applications: Given Greece’s prominence in global shipping, there is particular interest in blockchain applications for supply chain transparency, cargo tracking, and maritime trade documentation.

Regulatory Evolution

Greece’s cryptocurrency regulatory framework has evolved significantly from an initially hands-off approach to a comprehensive, EU-aligned system. The trajectory reflects Greece’s commitment to harmonizing with broader European regulatory initiatives while addressing local market conditions.

The implementation of MiCAR represents the most significant milestone in this evolution, providing a unified framework that offers legal certainty for businesses while establishing consumer protections and market integrity standards. The regulation’s passporting mechanism positions Greece as a potential gateway for cryptocurrency businesses seeking to operate across the European market.

Looking forward, Greek regulators are expected to continue aligning with EU-level developments, including potential enhancements to the MiCAR framework and implementation of future directives addressing emerging areas such as decentralized finance, NFTs, and central bank digital currencies. The Bank of Greece participates in ongoing work at the European level regarding CBDC development and cross-border payment innovation.

Regulatory attention is increasingly focused on consumer protection, market surveillance, and ensuring that the growing cryptocurrency sector does not become a vector for financial crime. Enhanced coordination between the HCMC, Bank of Greece, and tax authorities is expected to improve oversight and compliance monitoring.

For businesses and investors, the key takeaway is that Greece now offers a mature regulatory environment aligned with European standards, providing both opportunities for legitimate cryptocurrency activities and clear obligations for compliance.

For Current Information:

• Hellenic Capital Market Commission (HCMC): https://www.hcmc.gr
• Bank of Greece: https://www.bankofgreece.gr
• Independent Authority for Public Revenue (AADE): https://www.aade.gr
• Ministry of Digital Governance: https://www.mindigital.gr
• Hellenic Financial Intelligence Unit: https://www.hellenic-fiu.gr
• European Securities and Markets Authority (ESMA) – MiCA Information: https://www.esma.europa.eu