Bundestag passes crypto data exchange law; ESMA tightens stablecoin rules affecting USDT in EU
German parliament approves OECD crypto reporting framework while EU regulator escalates restrictions on non-MiCA compliant stablecoins.
Why it matters
The CARF adoption expands tax surveillance of German crypto investors using foreign platforms. ESMA's escalating stablecoin restrictions could force EU exchanges to delist or cease custody of USDT, the largest stablecoin by market cap, affecting liquidity and user access.
Key facts
The German Bundestag approved the international Crypto-Asset Reporting Framework (CARF) for automatic exchange of crypto transaction data with tax authorities.
Reported by BTC-ECHO
Under CARF, crypto service providers must transmit personal customer data, traded cryptocurrencies, transaction volumes and number of trades to authorities.
Reported by BTC-ECHO
ESMA is tightening requirements for stablecoins not compliant with MiCA regulation, affecting Tether's USDT and PayPal USD.
Reported by BTC-ECHO
EU crypto exchanges were already required to restrict trading of non-MiCA compliant stablecoins from early 2025.
Reported by BTC-ECHO
ESMA is now extending restrictions to also cover custody services for non-compliant stablecoins.
Reported by BTC-ECHO
What happened
BTC-ECHO reports that the German Bundestag has approved the international Crypto-Asset Reporting Framework (CARF) from the OECD, requiring crypto service providers to transmit customer data, traded cryptocurrencies, transaction volumes and trade counts to authorities. Separately, the European Securities and Markets Authority (ESMA) is escalating restrictions on stablecoins not compliant with MiCA regulation, particularly targeting Tether's USDT and PayPal USD, moving beyond trading restrictions to also affect custody services.
How the story developed
- First report
First report by BTC-ECHO
Krypto-News: BaFin-Schock für Bitcoin.de und USDT-Aus in der EU
- Update
Bundestag passes CARF implementation law
German parliament approves OECD framework for automatic crypto tax data exchange
- Update
ESMA escalates non-MiCA stablecoin restrictions
EU regulator moves from trading restrictions to custody restrictions for USDT and PayPal USD
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| BTC-ECHO Crypto media | Krypto-News: BaFin-Schock für Bitcoin.de und USDT-Aus in der EU | Original |
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