😐 The Spanish tax authority has charged the investor 9 million euros for collateralizing tokens in a DeFi protocol and taking out a loan in stablecoins - without selling assets and realizing actual profits.
ℹ️ The AEAT equated the technical collateralization of tokens to capital realization, which contradicts the law. Systemic issue: the tax tribunal is subordinate to the Ministry of Finance, and to appeal, one must first pay the entire amount or provide a guarantee.