Mr. Niall Cody:

Cryptocurrencies are a clear area of risk for tax administration, but also for agencies dealing with criminal assets. Essentially, there are no holders of cryptocurrencies in Ireland but there are developments at EU and OECD level. The EU is bringing forward a directive on administrative co-operation. There is a series of directives on administrative co-operation, DACs, which are entitled DAC1, DAC2 and so on. DAC8 is expected to be implemented in the next couple of years to deal specifically with the exchange of information relating to cryptocurrencies. That will be an important part of the tools to deal with those risks.