Spain Plans to Require Investors to Disclose Cryptocurrencies
- Cabinet proposes new law covering domestic, foreign holdings
- Digital coins held abroad to be subject to 720 form, penalties
This article is for subscribers only.
Spain plans to require cryptocurrency investors to report their holdings and transactions whether in the country or offshore, to help control tax evasion.
The government today proposed new legislation on digital coins affecting anyone subject to Spanish taxes. The planned rules, which need to be debated and approved by Congress, were announced in a briefing on Friday by Isabel Celaa, spokeswoman for the administration.