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CRS and DAC8 explained: The alternative with CcoinFinance
Financial regulation is becoming stricter worldwide. Two central components are the CRS (Common Reporting Standard) and the EU DAC8 directive. Both increase transparency when reporting financial and crypto data. Here you can find out in compact form what is behind them - and how SourceLess / CcoinFinance offers a decentralized option outside the CRS.
What is the CRS (Common Reporting Standard)?
The CRS is an OECD standard (since 2014) to which over 120 jurisdictions have signed up. Financial institutions report relevant account data to the local authority, which automatically transmits it to the account holder's country of residence.
- Data types: Name, address, TIN, date of birth, account number, account balances, interest, dividends, capital gains.
- Objective: Automatic exchange of information to curb cross-border tax evasion.
What is DAC8?
DAC8 (EU Directive on Administrative Assistance, version 8) extends the reporting obligations to crypto-assets and e-money. Providers that serve EU tax residents must report transactions such as buying/selling, swapping, staking, lending and inputs/outputs between wallets.
- Applicability: In the EU; affects CEX/DEX/wallet providers with EU customers.
- Time horizon: Application from January 1, 2026 (with reporting for 2025).
CRS vs. DAC8 at a glance
| Feature | CRS | DAC8 |
|---|---|---|
| Scope of application | Bank accounts, custody accounts, insurance policies | Crypto assets & e-money |
| Legal framework | OECD standard (global) | EU Directive (all EU member states) |
| Start | from 2017 in many countries | from 2026 (notifications for 2025) |
| Participants | >120 jurisdictions | EU + providers with EU customers |
| Reported data | Account holder and income data | Transactions, wallet withdrawals, income |
SourceLess & CcoinFinance: Option outside the CRS
The SourceLess ecosystem offers CcoinFinance, a financial platform that operates via a partner bank in Laos. Laos does not currently participate in the CRS, which means that there is no automatic exchange of information in accordance with the OECD CRS standard.
- Functional: Decentralized offshore IBAN account, wallet integration, fiat↔crypto exchange, optional Visa card.
- Ecosystem advantage: Seamless integration into SourceLess applications.
- Use case: For internationally active entrepreneurs/investors who are evaluating structures outside the CRS.
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