Ex-OECD Official Warns Europe’s DeFi Tax Lag is Temporary

Tax expert Colby Mangels highlights that the current DeFi tax gap in Europe won't endure, as AML enforcement grows stronger.

According to Colby Mangels, a former official from the OECD, the current landscape of decentralized finance (DeFi) in Europe is not yet encompassed by DAC8 and CARF regulations. However, he suggests that this situation is likely to change as trends in anti-money laundering (AML) enforcement continue to evolve.

As the regulatory environment tightens and authorities ramp up their efforts to oversee financial activities, it is expected that DeFi platforms will soon find themselves under increased scrutiny. Mangels emphasizes the importance of preparedness among businesses operating within this rapidly changing sector.