Express
Spain May Oblige Spaniards to Report on Holdings and Operations with Cryptocurrencies
Summary: The Spanish parliament has voted in favor of the 'Law on Fighting Tax Fraud that will require citizens to report overseas crypto holdings. Per an official government release, the new law will oblige Spaniards “to report on holdings and operations with cryptocurrencies,” on tokens “both located in Spain and abroad” if the transactions “affect Spanish ...
The Spanish parliament has voted in favor of the 'Law on Fighting Tax Fraud that will require citizens to report overseas crypto holdings.
Per an official government release, the new law will oblige Spaniards “to report on holdings and operations with cryptocurrencies,” on tokens “both located in Spain and abroad” if the transactions “affect Spanish taxpayers.”
“Due to their proliferation and popularity among investors and savers, it is necessary to take greater control over cryptocurrencies,” they said. The bill still needs to be ratified after the senate voted in favor in a majority vote.
By Amy Liu
Tags: Cryptocurrency,Law,Spain
Link: Spain May Oblige Spaniards to Report on Holdings and Operations with Cryptocurrencies [Copy]
