Crypto Investment in Spain
Spain regulates crypto through the EU's MiCA framework (in force since 2024) and taxes gains at 19–28% savings rates. Holdings on foreign exchanges are reported via Modelo 721 (>€50k) and gains via Modelo 100. The infrastructure is mature; the compliance cost is real.
Spain regulates crypto through the EU's MiCA framework (in force since 2024) and taxes gains at 19–28% savings rates. Holdings on foreign exchanges are reported via Modelo 721 (>€50k) and gains via Modelo 100. The infrastructure is mature; the compliance cost is real.
Tax treatment 2026
| Event | Tax treatment | Form | Notes |
|---|---|---|---|
| Buy / hold | No tax | Modelo 721 if foreign >€50k | Annual asset declaration |
| Sell for EUR | Capital gain 19–28% | Modelo 100 | FIFO across all wallets |
| Crypto → crypto | Capital gain on disposed asset | Modelo 100 | Each swap is taxable |
| Staking / yield | Work or savings income 19–47% | Modelo 100 | Classification depends on activity |
| NFT sale | Capital gain 19–28% | Modelo 100 | Creator royalties = work income |
| DeFi LP entry/exit | Taxable disposal each side | Modelo 100 | Often miscalculated |
Compliant exchanges in Spain (MiCA-registered)
- ✦Bit2Me, Bitnovo, Onyze, Criptan — Spanish CASPs, full Modelo 721 reporting.
- ✦Kraken, Bitstamp, Coinbase — EU MiCA-licensed, accept Spanish residents.
- ✦Binance — Spain restored full service in 2024 after MiCA compliance.
- ✦Foreign exchanges (Bybit, OKX) — usable but YOU calculate cost basis and file Modelo 721.
- ✦Cold storage (Ledger, Trezor) — not reportable unless connected to a foreign service that holds keys.
Beckham Law and residency interplay
Beckham Law (régimen impatriado): foreign-source crypto gains are exempt during the 6-year window — but Spanish-source crypto activity is taxed at the 24% flat rate. The 'source' definition for crypto is unsettled — get a written ruling.
Non-resident: only Spanish-situs gains are taxable. Crypto generally not considered Spanish-situs unless held on a Spanish CASP.
Becoming Spanish resident with significant crypto wealth: consider crystallising gains BEFORE arrival (no entry tax) to reset cost basis. Common move for crypto-native HNWs relocating to the Costa Blanca.
Crypto holdings count toward the regional wealth-tax base (Valencia: €500k threshold, 0.25–3.5% scale). Combined with the Beckham window expiry, this drives many crypto holders to Madrid or to relocate again before year 7.
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