 Spain’s New Crypto Oversight Law Effective by January 2026
 1. Expanded Data Reporting to Tax Authorities
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Spain is transposing DAC8 (Directive on Administrative Cooperation, 8th amendment), which mandates crypto-asset service providers—both within Spain and abroad—to report users’ transaction details and holdings, including cross-border activity
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Reporting obligations take effect January 1, 2026, with the first data exchanges expected by September 30, 2027
 2. Power to Seize Crypto for Tax Debts
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The Spanish Tax Agency (AEAT) will gain authority to seize crypto assets, similar to how it already seizes bank-held funds, under amendments to Article 162 of the General Tax Law
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A royal decree declaring electronic money institutions as tax collection agents came into effect on February 1, 2024, enabling the blockage and confiscation of assets held in crypto accounts
 3. Alignment with EU & Broader Oversight
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This law aligns Spain with the EU’s DAC8 framework and the OECD’s Crypto-Asset Reporting Framework (CARF), enhancing intergovernmental tax oversight
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Spanish citizens must also declare crypto holdings abroad under existing Form 721 rules, reinforcing the transparency measure
 4. Purpose and Impact
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The aim is to combat tax evasion, bolster transparency, and apply consistent treatment to crypto—akin to traditional financial assets .
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This move deepens Spain’s regulatory control by allowing data sharing and direct asset seizure, extending capabilities beyond conventional banking channels
 What This Means for Crypto Holders in Spain
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Mandatory reporting: Crypto service providers must share users’ transaction history and balances.
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Asset seizure: If you owe taxes and fail to pay, the AEAT can tap into your crypto assets—even in non-Spanish wallets or exchanges.
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Increased compliance pressure: Expect stronger reporting and audit mechanisms from 2026 onward, with first enforcement actions likely after 2027.
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