What to Know:
- Spain will enforce MiCA from July 2026, requiring all crypto firms to obtain full authorization to continue operating.
- DAC8 takes effect in January 2026, mandating exchanges to report user transactions, balances, and asset flows to tax authorities.
- The dual rollout tightens oversight and tax control, while keeping self custody outside automatic reporting rules.
Spain is preparing to regulate cryptocurrency in 2026, as two major European Union rules move from planning to full enforcement. The Markets in Crypto Assets regulation, known as MiCA, and the Administrative Cooperation Directive, or DAC8, will jointly reshape how digital assets are issued, traded, and taxed in the country.
Spain to Implement Two Key Cryptocurrency Regulations in 2026
MiCA will become fully enforceable in Spain on July 1, 2026. From that date, every crypto asset service provider working in the market will need formal authorization to continue its activities. Firms that fail to secure approval will be forced to shut down. The regulation, already applicable at EU level since late 2024, aims to harmonize crypto rules across member states by defining categories such as utility tokens, asset referenced tokens, and stablecoins, and by setting compliance standards for issuers and intermediaries.
Regulation in Spain falls to the National Securities Market Commission, or CNMV. More than 60 entities are currently registered to provide crypto services, including banks such as BBVA, Cecabank, and Renta 4 Banco, alongside crypto exchanges and custodians. Many of these firms are operating under a transitional regime approved by the Spanish government in December, which extends the MiCA adaptation period until mid 2026.
The extension allows companies already active under earlier national rules to continue operating without immediate authorization under MiCA. The grace period offers time to adjust internal controls, capital requirements, and governance structures. It also hints at an approaching deadline. From July onward, market access will depend entirely on compliance with European standards.
While MiCA governs market conduct, Spain’s second regulatory pillar focuses on taxation. DAC8, approved by parliament in October 2025, will take effect on January 1, 2026. The directive requires crypto exchanges and service providers to automatically report user data to tax authorities across the European Union. Reportable information includes balances, transactions, transfers, and conversions between digital assets.
Tax advisors say the scale of disclosure under DAC8 will exceed traditional banking standards. José Antonio Bravo Mateu, a specialist in digital asset taxation, said tax authorities will receive near complete records of crypto activity carried out in 2026, beginning in 2027. He noted that even minor transactions will be included, unlike bank reporting systems that apply thresholds.
Under the new framework, the Spanish Treasury will be able to order providers to freeze or liquidate crypto assets to settle tax debts. The power will apply to domestic platforms and, through automatic data sharing, to EU based exchanges serving Spanish residents. Assets held on Spanish exchanges may be seized directly, without lengthy administrative procedures.
These changes have prompted renewed attention to self custody. Advisors point out that crypto held in personal wallets does not fall under DAC8 reporting rules, as there is no intermediary responsible for submitting data. Assets stored this way are not considered located in Spain or abroad for reporting purposes, and they are excluded from forms used to declare custodial holdings.
Regulatory consultants at Cero Uno have warned that confusion between MiCA and DAC8 could leave users exposed. They stress that MiCA addresses licensing and market integrity, while DAC8 targets tax transparency. Platforms must report 2026 activity between January and September 2027, reinforcing the EU’s system for automatic information exchange.
Criticism has also emerged from analysts and industry participants. José Luis Cava, author of “The Art of Speculating,” has questioned Spain’s approach, pointing to the United States, where proposals would allow taxpayers to settle federal obligations in bitcoin without triggering capital gains. In Spain, recent amendments proposed by the Sumar parliamentary group seek to expand the Tax Agency’s authority to classify digital assets as attachable property and sell them to recover debts.
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