New cryptocurrency legislation predicted to yield an estimated 2.4 billion euros
In a move to increase tax revenue and foster the growth of the digital economy, Spain has introduced a comprehensive new crypto law. The legislation aims to clarify and strengthen taxation rules and reporting requirements for cryptocurrency transactions, providing legal certainty and encouraging transparent and regulated crypto activity.
Under the new law, gains from crypto disposals are treated as "savings income" and taxed progressively up to 28% for gains exceeding €300,000. Income from mining, staking, salaries paid in crypto, or DeFi yields is considered "general income," taxed at progressive rates up to 47%. Every sale, swap, or payment in crypto is a taxable event, and crypto received through salary, staking, mining, or airdrops is taxed when controlled by the taxpayer.
Tax residents are required to declare crypto assets on Modelo 100 tax returns, and if foreign crypto wallets exceed €50,000 on December 31st, an additional Modelo 721 form must be filed. Maintaining records for four years is mandatory to ensure proper tax compliance.
The new regulations will increase tax compliance by imposing clear obligations on taxpayers to report crypto holdings and transactions, thus reducing tax evasion in the digital asset space. By formalizing crypto taxation and reporting, Spain aims to boost the digital economy and encourage transparent and regulated crypto activity.
Financial institutions like BBVA are already integrating crypto trading and custody services into their platforms, providing regulated access to crypto assets for retail customers. This complements the regulatory framework and fosters a more stable and mature crypto market ecosystem.
The new laws and guidelines in Spain aim to consolidate a framework that allows for a harmonious coexistence between innovation and tax responsibility. Transactions with digital assets can no longer escape fiscal supervision and must be integrated into personal or business accounting.
The DAC 8 directive, scheduled for January 1, 2026, requires providers of services related to cryptocurrencies to identify users, register operations, and share that information with the tax authorities. The Tax Agency has established guidelines for the detailed declaration of crypto gains and losses, equating them to capital income.
The anticipated 2.4 billion euros increase in revenue from the crypto sector indicates a growing maturity of the crypto ecosystem in Spain. Spain positions itself as a European reference for responsible and secure adoption of blockchain-based financial technologies.
The importance of accounting detail and transparency lies in improving the accounting and tax management of taxpayers related to cryptocurrencies. Through modernization of laws and adaptation of traditional tax regulations to digital reality, Spain creates an ecosystem where cryptocurrencies are instruments for financial transformation.
Clear and firm regulation in Spain is creating a climate of confidence for the development of blockchain startups and market actors. The fiscal revenue derived from cryptocurrencies becomes a lever for broader and more sustainable economic development in Spain.
The new regulations aim to organize the crypto market and optimize tax collection in Spain. They also attract capital investment, strengthen technological infrastructure, and foster the development of specialized talent in the crypto sector.
The DAC 8 directive includes operations on platforms outside the European Union and the use of personal wallets. The combination of technological innovation with a solid legal framework can boost job creation, national competitiveness, and fiscal revenue in Spain.
The guidelines cover token operations, exchanges of cryptocurrencies for goods or services, and gains linked to digital mining. Regulation in Spain aims to reduce legal gray areas and mitigate risks associated with fraud and scams in the crypto sector.
Spain's new crypto law is expected to raise 2.4 billion euros, boosting the digital economy and fiscal transparency. The evolution of Spanish regulation shows it is possible to adapt to disruptive technologies without sacrificing control and fiscal transparency.
- The comprehensive new crypto law in Spain, which aims to boost the digital economy, requires every business offering crypto trading and custody services to integrate such offerings into their platforms, ensuring a regulated and stable crypto market ecosystem.
- In understanding the new crypto taxation landscape in Spain, gains from crypto disposals and income from mining, staking, salaries paid in crypto, or DeFi yields are considered as "general income," while gains from crypto disposals are treated as "savings income" and taxed progressively up to 28% and 47%, respectively.
