According to a draft bill released on Thursday for public consultation, Greece is preparing to legislate a 10% capital gains tax on cryptocurrencies.

At present, Greece has no comprehensive legal framework for taxing cryptocurrencies, and EU member states have not established a unified tax system for the industry.

The draft bill stipulates that annual cryptocurrency capital gains of no more than 500 euros (approximately $559.95) will be exempt from this new tax.

The bill is scheduled to be submitted to the Greek parliament for deliberation in November.

European countries currently impose tax rates on cryptocurrencies ranging from 8% to 30%, usually levied on capital gains.

Greek officials said it is difficult to estimate the size of Greece's cryptocurrency market because the vast majority of investors use overseas platforms.

At present, there are no specific projections for the national fiscal revenue that this new tax would generate.