Do crypto transactions need to be reported?

Yes,crypto transactionsare subject tomandatory reporting under certain conditions. The reporting requirement for crypto transactions, known as the AWG reporting requirement, applies, among other things, to transactions exceeding €50,000.

Legal basis: The Foreign Trade and Payments Act (AWG)

The AWG regulates cross-border payment transactions and pursues foreign trade policy objectives.

The details can be found in the Foreign Trade and Payments Ordinance (AWV). The relevant provision here is, in particular, Section 67 AWV, which specifies the reporting requirements for crypto transactions.

When is there a reporting obligation for crypto transactions?

With the increasing importance of cryptocurrencies, the German Federal Bank has also clarified: Cryptocurrencies are considered financial instruments within the meaning of Section 67 AWV – provided they are used in the context of a cross-border payment transaction.

Since January 1, 2025, a uniform threshold of €50,000 per transaction applies. This value replaces the previously applicable limit of €12,500.

Examples of crypto transactions that must be reported:

• They transfer Bitcoin worth over 50,000 euros to a foreign exchange or external wallet.
• You will receive the same amount of Ethereum from a private individual or company not based in Germany.
• You are making a payment in stablecoins to settle an invoice outside of Germany.

The decisive factor for the reporting obligation of crypto transactions is not the currency, but the euro equivalent at the time of the transaction.

Who has to report – and how?

The following are subject to reporting requirements for crypto transactions:

• Private individuals residing in Germany
• Companies that are domestic legal entities
• Financial service provider based in Germany

For regular payments, the report is submitted via the "General Reporting Portal Statistics" (AMS) of the Deutsche Bundesbank and must generally be submitted by the 7th calendar day of the month following the payment.

What are the consequences of violating the reporting requirements for crypto transactions?

Failure to comply with the reporting requirement constitutes an administrative offense under Section 19 of the Foreign Trade and Payments Act (AWG). Sanctions range from warnings to fines of up to €30,000.

Self-reporting as an opportunity to avoid a fine

Anyone who has failed to comply with their reporting obligations for crypto transactions should not hesitate: The AWG (Austrian Foreign Trade and Payments Act) provides for the possibility of so-called self-reporting. Those who voluntarily submit a missed report retroactively, before the authorities have discovered the violation, can, under certain circumstances, completely avoid a fine.

The prerequisite is that the notification is complete and submitted on time. This offers crypto investors in particular an effective way to return to legality without sanctions – similar to the self-disclosure process in tax law, which grants immunity from prosecution.

Conclusion: Compliance pays off – even in crypto.

Cryptocurrencies still enjoy a degree of anonymity – but this doesn't exempt them from regulatory obligations. The reporting requirement for crypto transactions, more precisely the AWG reporting requirement, is not for taxation purposes, but rather for the collection of foreign trade data by the Deutsche Bundesbank (German Federal Bank). Nevertheless, those who fail to comply risk severe penalties.

Our advice: If you regularly conduct or plan to conduct large crypto transactions, we recommend a legal review of your situation – especially for cross-border transactions. Early self-reporting can prevent fines and offers a straightforward way to ensure legally compliant reporting of crypto transactions.

Do you have any questions?

Kryptoanwalt.de offers comprehensive advice on reporting obligations, tax implications, and compliance issues related to cryptocurrencies. Contact us – discreetly, competently, and practically.