The European Union has begun holding entities accountable for not fully implementing regulations related to crypto taxation and markets. The European Commission has initiated infringement procedures against 12 member states, including Belgium, Spain, the Netherlands, Malta, and Portugal, demanding that they complete the transposition of Directive (EU) 2023/2226 into national law as soon as possible; otherwise, the case will be referred to the European Court of Justice. The core of this directive requires crypto asset service providers to report certain user and transaction data to tax authorities to enhance cross-border information exchange and curb tax evasion and avoidance related to digital assets. Meanwhile, the EU has also separately initiated procedures against Hungary, pointing out that its unilateral increase in licensing and criminal liability requirements during the implementation of MiCA undermines the EU’s unified regulatory framework and increases market compliance uncertainty. The signal sent by the EU is very clear: neither tolerate neglect nor accept excessive regulation; the crypto market must operate under unified rules. From an industry perspective, this is not simply about tightening regulation but marks the true enforcement phase of Europe’s crypto policy. Regulatory benefits and ambiguity are disappearing, replaced by clear boundaries and higher transparency. Short-term pains are inevitable, but in the long run, this unified and predictable regulatory environment is more conducive to projects and capital that genuinely aim for long-term operation entering the market. #欧盟监管 # Crypto Compliance