Spain legally classifies cryptocurrencies as digital assets, treating them similarly to stocks or other investment assets rather than currency. The crypto market in Spain is regulated, meaning there is a dedicated framework under general tax laws with specific guidance for digital assets. The Agencia Estatal de Administración Tributaria (AEAT) is the body responsible for administering and enforcing tax laws related to cryptocurrency in Spain. These regulations are integrated into the existing general tax framework. Gains from selling, swapping, or spending crypto are subject to progressive capital gains tax rates ranging from 19% to 30%. Spain does not distinguish between short-term and long-term holdings, meaning no reduced rates apply for holding assets over extended periods. The First-In, First-Out (FIFO) method is mandatory for calculating cost basis. Income derived from crypto, such as rewards, can be taxed between 19% and 47% depending on whether it is classified as investment income or business income. Converting crypto to fiat currency is a taxable event. Corporations engaged in crypto activities face a standard corporate tax rate of 25%. Importantly, crypto transactions themselves are exempt from VAT, though services related to crypto may incur standard VAT. Staking rewards are generally taxed as savings or investment income at progressive rates between 19% and 30% upon receipt or disposal, though exact timing of recognition lacks detailed guidance. Mining income is treated as business income, subject to general progressive income tax rates from 19% to 47%, with eligible expenses and hardware costs being deductible. For DeFi activities, income generated is taxed between 19% and 47%, while disposals are subject to capital gains tax from 19% to 30%, specific regulatory frameworks for complex DeFi interactions are not yet defined. Sales of NFTs are subject to 19-30% capital gains tax, while NFT creation may trigger income tax. Crypto-to-crypto swaps, including those involving stablecoins, are considered taxable disposal events, and the FIFO method applies. Significant changes are anticipated in 2026 with the implementation of the EU's DAC8 Directive and MiCA Regulation. DAC8 will introduce new reporting requirements for crypto platforms, enhancing tax authorities' ability to track crypto transactions, while MiCA will establish a comprehensive regulatory framework for crypto-asset markets.
Tax Rates
| Effective individual rate | 19 |
| Capital gains tax | 19-30% progressive rates on crypto disposals, FIFO method applies |
| Income tax on crypto | 19-47% depending on source: investment income 19-30%, business/mining up to 47% |
| Corporate tax | 25% |
| VAT | Exempt from VAT on crypto transactions, services may apply standard VAT |
Activity Taxes
| Staking | 19-30% as savings/investment income at receipt or disposal |
| Mining | 19-47% as business income, expenses and hardware costs deductible |
| DeFi | Income taxed 19-47%, capital gains on disposals taxed 19-30% |
| NFTs | 19-30% capital gains tax on sales, creation may trigger income tax |
Taxable Events
| Crypto → Fiat | Taxable at progressive rates on gain between cost basis and sale price |
| Crypto → Crypto | Taxable as disposal events, stablecoins included, FIFO method |
Holding Period
| Holding period benefit | None, no reduced rates for long-term holding |
Sources