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Bull Bitcoin challenges EU crypto tax reporting rules over user data concerns
Canadian cryptocurrency exchange Bull Bitcoin has petitioned France's Council of State to annul a decree implementing the EU's DAC8 tax reporting rules. The company argues that the new requirements pose serious risks to the privacy and security of millions of crypto users.
The new rules require crypto-asset service providers to collect information about users' identities and transactions and report it to national tax authorities. The data is then automatically exchanged among European Union member states.
According to Bull Bitcoin, creating a centralized database containing users' names, home addresses, and cryptocurrency transaction records poses significant security risks.
Data breach concerns
The company said that, amid recurring personal data breaches and a growing number of physical attacks targeting digital asset holders, building such databases puts the physical safety of millions of people at risk.Bull Bitcoin also said it intends to use every available legal avenue to suspend, amend, or overturn DAC8. The company plans to take a similar approach toward the Crypto-Asset Reporting Framework (CARF), the global reporting standard developed by the Organisation for Economic Co-operation and Development (OECD).
Under the current rules, crypto companies must submit their first reports covering 2026 transactions by Sept. 30, 2027.
France leads in attacks targeting crypto holders
Bull Bitcoin said its concerns are reinforced by the growing number of so-called wrench attacks—crimes in which victims are forced through threats or physical violence to hand over their digital assets.According to French police, at least 77 crypto-related kidnappings and extortion cases have been recorded in the country since the beginning of 2026.
Earlier, CertiK reported that the number of confirmed wrench attacks worldwide rose 75% in 2025, reaching 72 cases. France recorded the highest number of such incidents.
Earlier this year, three criminals posing as police officers entered the home of an elderly couple in France and forced the husband, at knifepoint, to transfer about $1 million worth of Bitcoin.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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