Starting January 1, 2026, Gemini, along with all other EU registered crypto asset service providers, is required to collect tax information from our customers and annually report certain transactions to Irish Revenue and the Malta Tax Authority as part of the Crypto-Asset Reporting Framework (CARF) which is implemented in EU Member States through the Eighth Directive on Administrative Cooperation (DAC8). The DAC8 is a tax reporting standard that provides tax authorities visibility into crypto asset tax compliance of domestic tax residents. The DAC8 also allows tax authorities to identify users of Irish or Maltese crypto platforms that are tax resident in countries outside of Ireland or Malta. If Ireland or Malta have international tax data sharing agreements in place with the user’s home country, they will transfer that user’s tax data to the tax authorities in their home country of tax residence.
The DAC8 objectives are similar to tax reporting frameworks for traditional financial products like bank accounts and fund shares under the Common Reporting Standard (CRS or DAC2) which has been in place globally since 2016.
What tax data will be collected?
In order to perform annual tax reporting, Gemini is required to collect and validate the following tax identification information about our customers:
- Individuals: name, address, country(ies) of tax residence, tax identification number (TIN), and date of birth
- Institutional/Entities: name, address, country(ies) of tax residence, tax identification number (TIN)
- For certain institutional/entities we may be required to collect the information listed under “Individuals” regarding the so-called “Controlling Persons” of the organization as well as their role(s) (e.g. owner, senior managing official, trustee, etc) similar to AML/KYC identification procedures
When will tax data collection happen?
For customers that open an account on or after January 1, 2026, this information will be collected at onboarding. For customers whose accounts were open prior to that date, the same information is required to be collected before 12/31/2026.
What happens if Gemini cannot collect the required customer tax data?
If a customer does not provide Gemini with the requested tax data within the time limits noted in our request, then Gemini may be required to freeze certain activities on the customer account. Customers may be prevented from making future purchases, sales, exchanges, transfers, and participating in income producing activities until the requested information is provided.
What is Gemini required to report to Irish Revenue?
In addition to the tax identification information of reportable customers, Gemini is required to report certain transactions and accounts such as:
- Income earned in your Gemini account and year-end account balances for fiat e-money wallets
If you are tax resident in a country outside of Ireland, your data may be transferred by Irish Revenue (not Gemini) to reportable countries in accordance with international tax data sharing agreements. Irish Revenue will maintain a list of these countries on their website as agreements are finalised. All 27 EU Member States will be included in these published lists.
What is Gemini required to report to the Malta Tax Authority?
In addition to the tax identification information of reportable customers, Gemini is required to report aggregated information about certain transactions and accounts such as:
- Crypto-asset transfers in to and out from Gemini, purchases, sales, exchanges between crypto-assets, and income you may earn
- For certain asset or account types, year-end account balances may be reportable under the Common Reporting Standard (such as certain regulated stable coins and derivative financial instruments)
Gemini does not report any wallet addresses as part of the standard CARF reporting. However, we are required to retain this information in accordance with Maltese data retention regulations. We may be required to provide wallet address information to the Malta Tax Authority under special inquiries.
Customers who are tax residents outside of Malta may have their information transferred by the Malta Tax Authority (not Gemini) to their country of tax residence in accordance with international tax data sharing agreements. The Malta Tax Authority will maintain a list of these countries on their website as agreements are finalised. All 27 EU Member States will be included in these published lists.
Will Gemini report my pre-2026 crypto-asset transactions under CARF?
No. There are no circumstances in the DAC8 requirements where pre-2026 crypto-asset transactions are reported to Irish Revenue or the Malta Tax Authority.
When will Gemini report tax data?
Gemini will submit the first annual reports of (2026) tax data to Irish Revenue or the Malta Tax Authority in early 2027. Pre-2026 crypto-asset transactions are not reportable. If you are tax resident in a country outside of Ireland or Malta then Irish Revenue or the Malta Tax Authority is expected to exchange your 2026 tax data to your country of tax residence later in 2027, and forward.
What types of crypto assets are reportable?
Under the DAC8, any crypto-asset that can be used for payment or investment purposes is reportable including BTC, ETH, tokenized financial instruments, wrapped tokens, and many stable coins. Certain regulated stable coins may not be reportable under DAC8 but their account balance will be reportable under CRS/DAC2 instead along with fiat e-money wallet accounts and certain derivative financial instruments.
Are assets that are not crypto-assets reportable, like a fiat e-money wallet?
Yes. Though DAC8 is tax reporting for assets that rely on blockchain technology, other assets you hold with Gemini may also be reportable under CRS/DAC2 or even the Foreign Account Tax Compliance Act (FATCA) for certain US Persons. Fiat e-money wallets and derivative instruments that do not rely on blockchain technology may be reportable under CRS/DAC2 or FATCA.
Can I move assets to another platform that does not have to comply with DAC8?
Gemini is not alone in implementing the DAC8. The DAC8 requires crypto-asset service providers like exchanges, brokers, and dealers to collect and report tax data to the tax authorities if they are doing business in a country that has adopted the DAC8 or CARF outside of the European Union. This can even include certain decentralized exchanges or DeFi platforms that exert sufficient control to identify their users. You can view the list of countries adopting DAC8 or CARF on the website of the Organisation for Economic Co-operation and Development (OECD).