The Dutch government has sought public comment on a proposed law that would require crypto service providers, such as exchanges, to collect and share user data with local tax authorities to comply with European Union regulations. The Dutch Ministry of Finance said in a press release on October 24: "The purpose of the bill is to increase the transparency of cryptocurrency ownership in order to prevent tax avoidance and evasion." Under the new bill, tax authorities will share data collected by service providers about residents of other countries in the European Union with tax authorities in those countries, as mandated by the European Union-wide crypto tax reporting rules, known as DAC8, adopted last year.