What To Know:
- Spain’s Sumar group has proposed amendments that would significantly raise taxes on Bitcoin and other crypto assets by shifting gains to the higher general income tax bracket.
- The bill adds new obligations for platforms, including a CNMV-mandated crypto “traffic light” risk system and an expanded framework allowing authorities to treat all cryptos as attachable assets.
- Experts warn the measures are unenforceable in practice and could create tax confusion.
Spain’s Sumar parliamentary group has introduced amendments to a bill that would reshape three core tax laws and increase the tax on Bitcoin and other cryptos across the country. The proposal, now before the Congress of Deputies, targets the General Tax Law, the Income Tax Law and the Inheritance and Gift Tax Law.
Spain Considers Increasing Crypto Taxes
The changes focus on reclassifying crypto-related income. The plan would move profits from crypto assets not regarded as financial instruments into the category taxed under Personal Income Tax at the general rate. That rate can reach as high as 47 percent. At present, most retail crypto gains fall under the savings tax bracket, which tops out near 30 percent. For companies, the proposal places such profits directly under Corporate Income Tax at 30 percent. This represents an abrupt jump in the tax burden for both individuals and businesses handling digital assets.
Another provision requires Spain’s securities regulator, the CNMV, to design a visual “traffic light” risk system for cryptocurrencies. Platforms serving Spanish users would need to display these warnings prominently. The categories would reflect factors such as official registration, oversight, backing and liquidity. The requirement is meant to give new investors clearer indicators when interacting with crypto products.
The bill includes a second, more controversial adjustment. Lawmakers want all cryptocurrencies to be considered attachable assets in seizure processes. Currently, only crypto assets covered by the EU’s MiCA framework fall under that category. Specialists in the sector argue that this expansion ignores critical technical realities. Many tokens cannot be held in custody by an authorised European provider. Without such custody, execution of seizure orders becomes impossible.
Economist and tax adviser José Antonio Bravo Mateu called the measures “futile attacks against Bitcoin.” He argued that self-custodied assets cannot be easily reached by the state. According to him, the political pressure reflected in the bill only pushes holders to consider relocating when market cycles turn favourable for Bitcoin.
Lawyer Chris Carrascosa raised similar concerns. She said the seizure proposal is unenforceable because several major assets, including stablecoins such as USDT, do not rely on local custodians. She warned that the provision would complicate the responsibilities of crypto-asset service providers in Spain, who are the ones obligated to enforce seizure orders. The end result, she noted, would be a heavier compliance load paired with procedures that cannot be executed in practice.
Some tax specialists believe the amendments would accelerate confusion across the entire crypto tax environment. They argue that Spain already operates under a complex and restrictive system and that the new language would introduce inconsistencies which are actually difficult to manage at legal and administrative levels.
Alongside the Sumar initiative, two tax inspectors, Juan Faus and José María Gentil, have presented a separate idea. Their proposal establishes a customised tax regime for Bitcoin profits. It treats Bitcoin differently from the rest of the crypto market and suggests a lower fiscal burden for the asset. The plan has gained traction in parts of the community due to its attempt to recognise the distinct monetary characteristics of Bitcoin.
Spain’s shift toward tighter oversight comes at a time when the authorities are escalating enforcement. Now regulators have recently fined the social networking site X for facilitating crypto advertising from an unlicensed business.
The punishment shows that the Spanish regulatory authority is expanding its sights, with a gaze more widespread on advertising than exchanges and brokers. Debate on the amendments is anticipated to grow larger as the bill progresses through parliamentary chapters. The package is widely considered by its supporters to bolster investor protection and tax certainty. Critics say the proposed rules could be impractical, onerous and counterproductive, driving investors and businesses away to countries with simpler tax structures and more predictable administration.
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