Spain Working on Bill to Force Crypto Holders to Disclose Assets, Gains

The planned bill comes as part of broader legislation aimed at cracking down on tax fraud, a government spokesperson said.

By Omkar Godbole

Oct 13, 2020, 11:20 AM

Updated Aug 19, 2021, 4:57 AM

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Spain's cryptocurrency users may soon have to disclose their holdings to the country's tax agency.

According to government spokeswoman Maria Jesus Montero on Tuesday, the Spanish government is drafting legislation that would force cryptocurrency holders to disclose their holdings and any profits if passed.
The planned bill comes as part of broader legislation aimed at cracking down on tax fraud, Montero said, according to a Reuters report.

Also read: OECD Preparing Crypto Tax Reporting Framework for World’s Largest Economies

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Omkar Godbole

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