Spain’s government requires citizens to declare all crypto holdings

posted about 2 months ago
The Spanish Ministry of Finance passed a strict asset declaration law. Announcing an anti-fraud law approved by the Council of Ministers earlier today, Finance Minister María Jesús Montero explained that the new law will mandate “the identification of the holders and the balances contributed by these virtual currencies,” obligating crypto asset holders to declare all cryptocurrency asset holdings.

Montero further stated that all Spaniards with offshore currency holdings in fiat or crypto must declare these holdings in an annual declaration to Spain’s Agencia Tributaria. The draft law is intended to raise a further 850 million euros in tax revenue.
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