Spain Grants Tax Agency Power to Seize Crypto in Transparency Push
Key Highlights:

* New law mandates crypto platforms to report user data and holdings.

* Spanish Tax Agency can now seize digital assets for unpaid taxes.

* Law aligns with EU’s DAC8 directive, effective January 2026.

Spain is tightening its grip on crypto oversight with a sweeping new law that empowers authorities to access user data and seize digital assets. The move aims to curb tax evasion and enhance transparency ahead of the EU’s DAC8 deadline.

Mandatory Reporting for Crypto Platforms

Exchanges and wallet providers must now disclose user balances, transactions, and cross-border holdings, making it harder to hide assets offshore.

Seizure Powers Extended to Digital Assets

For the first time, Spain’s Tax Agency can confiscate crypto from delinquent taxpayers—marking a major shift from traditional asset enforcement.

The law is expected to generate €2.4 billion in tax revenue. Privacy advocates, however, warn of potential overreach.
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