According to Mars Finance, on May 10, Spain implemented the strictest cash control in Europe: withdrawals exceeding 3000 euros must be reported 24 hours in advance.
The latest royal decree issued by Spain states that from 2025 onwards:
Withdrawals over 3000 euros must be reported 24 hours in advance to the tax authorities regarding the purpose and recipient
The bank has the right to intercept transactions with incomplete materials and report suspicious operations
Fines for violations can be as high as 150,000 euros (minimum 600 euros)
■ Controversy focus:
The government claims it aims to combat financial crime, but it has been criticized as "excessive surveillance"
The CEO of Citizen X company warns: "Approval for withdrawals equals deprivation of property rights"
Bitcoin supporters criticize the policy as "totalitarian"
■ European trend:
Italy and France have implemented similar restrictions, and the EU is promoting cash control across the region. Analysts point out that this move may boost the demand for decentralized assets like Bitcoin.
