BREAKING: Bulgaria orders crypto exchanges to hand over user records. • Full transaction & personal info required. • Initial reports covering 2026 due June 2027. • Bill needs presidential sign-off to pass.

What happened

Bulgaria has ordered cryptocurrency exchanges to hand over user records, including full transaction and personal information. Initial reports covering 2026 are due by June 2027. The bill still requires presidential approval to become law.

Confirmed

Global impact / market context

This means crypto exchanges operating in Bulgaria must share customer details with authorities, which could raise privacy concerns and increase compliance costs. Exchanges might pass these costs to users, potentially making trading more expensive or driving some to unregulated platforms.

Analyst inference

Governments worldwide are tightening rules on crypto to prevent illegal activities. This Bulgarian move aligns with that trend. Investors may see increased regulatory pressure as a risk for crypto assets, possibly reducing demand and affecting prices, but the full impact depends on other countries' actions.

Analyst inference

What to watch

1. Whether the Bulgarian president signs the bill into law, as the order is not final until approval. Until then, the requirements are proposed, not yet active, so watch for official confirmation. Confirmed
2. If passed, the first reports covering 2026 must be submitted by June 2027. Check for exchanges' announcements about how they will comply, which may include asking users for more information. Proposed
3. Investors may watch for similar actions by other countries, as that could signal a global shift. Increased regulation might lead to lower crypto prices, so monitor market reactions after the bill's approval status becomes clear. Analyst inference

Evidence

• x.com