Bulgaria Grants Tax Officials Full Crypto Data Access Law

Lawmakers approved amendments to the Tax and Social Security Procedure Code, giving the National Revenue Agency direct access to detailed information on crypto asset users.

What Companies Now Have to Report

Companies dealing in crypto assets must register and report user data, including names, addresses, dates of birth, and tax identification numbers. Transaction level data is also mandatory, covering gross amounts, units traded, and details on both fiat to crypto and crypto to crypto exchanges.

The bill, introduced by the Cabinet, formalizes two European Union directives that member states must adopt by December 31, 2025. The measures target reporting gaps and strengthen efforts against tax avoidance involving digital assets.

The law also enables tax authorities across the EU and partner jurisdictions to exchange crypto asset information directly. That cross border data sharing is central to the underlying directives, and supporters say it brings Bulgaria in line with standards already active elsewhere in the bloc. Financial policy commentators have described the amendments as overdue, pointing out that similar frameworks already exist in other member states.

Pushback From Privacy Advocates

The vote triggered immediate debate. Privacy advocates criticized the scope of data collection as excessive, warning that mandatory disclosure of personal details could expose users to security risks if that data is ever mishandled or breached.

Crypto traders and small businesses raised separate concerns about compliance costs. Some argue the new registration and reporting requirements could push smaller providers out of the market entirely, which would make Bulgaria a less attractive base for regional fintech operations rather than a more competitive one.

The law passed 149 to 0 on September 9 and closes a gap in Bulgaria’s tax framework that has existed since crypto trading became mainstream. It also reflects a broader pattern across the EU of folding digital assets into traditional tax enforcement rather than treating them as a separate, lightly regulated category.

Hashlytics Take

A 149 to 0 vote sounds like consensus, but it mostly reflects that opposing crypto tax enforcement is politically unpopular right now, not that the compliance burden is trivial. The real story here is who absorbs the cost. Large exchanges already build KYC infrastructure for markets with stricter rules, so this changes little for them. Smaller regional platforms without that infrastructure are the ones facing a genuine choice: build out compliance systems fast, or exit the Bulgarian market. Framing this purely as a tax evasion crackdown skips over the fact that it also functions as a consolidation event favoring whichever platforms can afford to comply.