One week after the EU DAC8 cryptocurrency tax reporting rules came into effect, intense debates erupted online. Critics warn that mandating centralized exchanges to automatically share user data with tax authorities marks the end of financial privacy in Europe. Supporters counter that these protests are exaggerated and emphasize that the rules only apply to annual reports of custodial platforms, not real-time monitoring of on-chain activities or private wallets. The directive aligns with the OECD's global framework and has been adopted by over 40 countries.