Strengthening the Crypto Landscape: Spain’s Regulatory Framework for 2025
As the digital landscape continues to evolve, Spain is making significant strides in regulating cryptocurrencies. By 2025, Spain has committed to enhancing its crypto regulatory framework to align with global standards. The government’s efforts aim to create a transparent, secure, and highly regulated market, reinforcing Spain’s leadership in digital assets. Through these initiatives, Spain is not only mitigating crypto-related risks in the financial sector but also fostering growth in its burgeoning fintech landscape.
Spain’s Crypto Laws in 2025
July 4, 2025: BBVA Launches Crypto Services
In a groundbreaking move, Banco Bilbao Vizcaya Argentaria (BBVA), a leading Spanish multinational bank, launched crypto trading and custody services for retail customers, specifically for Bitcoin and Ether. This service, accessible via mobile apps, aligns with the EU’s Market in Crypto Assets (MiCA) regulations, which govern crypto transactions and ensure investor protection. BBVA’s initiative signifies a major step towards mainstream acceptance of cryptocurrencies in Spain.
June 2025: New Law for Crypto Data Acquisition
With the implementation of DAC8 crypto rules by 2026, Spain is broadening its efforts to curb criminality in the cryptocurrency space. The Spanish tax agency is now authorized to seize the cryptocurrency holdings of any individual with tax debts. This extension of Spain’s crypto tax policy underscores the government’s commitment to maintaining compliance and accountability in the digital asset market.
December 30, 2025: MiCA Implementation
Spain has proactively adopted the MiCA regulations, which became fully applicable across the EU in 2024. By opting for an accelerated timeline for compliance, Spain has enabled Crypto Asset Service Providers (CASPs) to transition smoothly under existing federal regulations while meeting MiCA standards well ahead of the official deadline.
Transition Period
By shortening the transitional period for MiCA compliance, Spain allows existing CASPs to operate under the current regulations. This strategic decision is designed to facilitate growth and adaptability in the crypto sector while ensuring that all providers align with the EU’s regulatory mandates.
Government Stance on Cryptocurrency
The Spanish government maintains a balanced approach towards cryptocurrency, permitting its trade, mining, and utilization while still not recognizing it as legal tender. This cautious stance emphasizes consumer protection and tax compliance. The government has taken active measures, including rescheduling MiCA compliance to shorten its implementation time, thus bolstering the regulatory environment for cryptos.
Moreover, efforts to combat crypto-related fraud have intensified. In a notable operation on June 25, Spanish law enforcement dismantled an international crypto fraud network that had scammed thousands of victims across Europe, signaling a strong commitment to protecting consumers.
Crypto Licensing in Spain: 2025 Requirements
Entities wishing to operate as Crypto Asset Service Providers (CASPs) in Spain must obtain a CASP license from the Spanish National Securities Market Commission (CNMV).
Key Requirements
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Physical Presence: Companies must have a registered office in Spain and maintain a corporate bank account with clearance from the Central Bank of Spain.
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Business Plan: A comprehensive business plan detailing strategy, platform usage, client acquisition, and safeguarding measures is required.
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Regulatory Compliance: Companies must adhere to stringent anti-money laundering, counter-terrorist financing, and know your customer regulations.
- Reputation and Oversight: Only reputable entities with an appointed AML officer for regular compliance checks are eligible for a CASP license.
Understanding Crypto Taxation in Spain for 2025
According to Article 33.1 of the Personal Income Tax Law, any changes to a taxpayer’s net wealth, including crypto transactions, are deemed capital gains, mandating annual reporting by June 30.
Taxable Crypto Events
- Sale, swap, or payment using crypto.
- Receiving crypto as income, encompassing mining, staking, and airdrops.
Penalties
Taxpayers must meticulously maintain records of their returns. Failure to declare can result in substantial fines or legal action, emphasizing the importance of compliance.
Tax Breakdown
| Tax Type | Tax Rate | Details |
|---|---|---|
| Capital Gains Tax | 19% to 28% | Dependent on the income bracket |
| Mining/Staking/Salary | 24% to 47% | Taxed as general income |
| Wealth Tax | 0.2% – 3.75% (if net wealth exceeds €700,000) | Applicable for wealth surpassing regional thresholds |
Capital Gains Tax Brackets for 2025
- €6,001 – €50,000: 21%
- €50,001 – €200,000: 23%
- €200,001 – €300,000: 27%
Crypto Adoption Trends in Spain for 2025
Growing User Penetration
As of 2025, the crypto user penetration rate in Spain is approximately 50.97%. This figure is expected to rise to 53.08% in 2026, coinciding with the anticipated full compliance with MiCA regulations. This growth signifies a solid shift towards digital currencies, with estimates suggesting a user base of 25.14 million crypto users.
Revenue Generation
The average revenue per user in Spain reaches an estimated US$54.3, contributing to a total crypto revenue of about US$1.3 billion in 2025. Additionally, the market is projected to grow at an impressive rate of 85.27%, forecasting total crypto revenue of US$2.4 billion by 2026.
Government Holdings
While the Spanish government has yet to disclose any public crypto holdings, it is focused on reinforcing its regulatory stance and consumer protections rather than engaging heavily with crypto assets itself.
FAQs
Is Spain considered a crypto-friendly country?
Yes, in 2025, Spain is regarded as a crypto-friendly nation with clear regulations concerning the trade, mining, and usage of cryptocurrencies.
How much is the crypto tax in Spain?
Crypto capital gains tax ranges between 19% and 28%, while income from mining or staking is taxed as general income, between 24% and 47%.
What is the crypto adoption rate in Spain?
Currently, the crypto user penetration rate stands at 50.97%, projected to rise to 53.08% by 2026.
Will Spain be considered a crypto haven?
Although Spain is crypto-friendly, its comprehensive tax framework means it is not classified as a "crypto haven" compared to countries like El Salvador or Portugal, which offer more favorable tax incentives for crypto holders.
With a forward-looking regulatory approach, Spain is paving the way for a more structured and secure crypto environment, positioning itself prominently in the global digital currency landscape.
