The Spanish Chamber of Deputies rejected the amendment proposed by the Vox party. This was aimed at handing back to the government a bill to replace the European DAC8 Directive on the taxation of Bitcoin (BTC) and cryptocurrencies. Therefore, the initiative currently continues to process in Congress under its original terms.
The decision, approved after a crucial vote on Thursday 16 October, will speed up the processing of standards that the European Directive classifies as essential. with her, Introduce strict controls over digital asset transactions and balances. It will also be possible for the Tax Agency (Ministry of Finance) to seize crypto assets of delinquent taxpayers.
With the support of a majority of the chamber, with the exception of the People’s Party (PP)’s abstention and a vote against Vox, the document will move forward for final approval by December 31, 2025.
First Vice President and Minister of Finance María Jesús Montero underlined the urgency of changing the European Directive. This is to comply with international commitments to fiscal transparency.
If this standard is approved, Spain will comply with the requirements of the European Union (EU). We also provide the following equipment to the authorities: A modern tool for monitoring the digital asset ecosystem.
The rejection of the amendments requested by Vox prevented the European Commission from starting infringement proceedings. This is the European Union’s disciplinary mechanism. This is triggered if a Member State does not translate the Directive into national law within a set deadline.
The European Commission could also refer the case to the EU Court of Justice, which would impose lump-sum and daily fines until resolution.
A fine known as a “lump sum” in Spanish lump sum, a single fixed financial sanction imposed by the Court of Justice of the European Union (CJEU) against Member States that do not comply with EU law.
This is a one-time payment intended to compensate for the damage caused by the breach and to deter future breaches. That amount is determined by considering factors such as the duration of the default, its severity, the state’s attitude, and the need for deterrence.
More surveillance, less privacy
For Spain, failure to apply the standards required by the EU could lead to multi-million dollar sanctions and loss of credibility in European tax matters. Meanwhile, for crypto users, this approval by Congress means Increased regulation and oversight of Bitcoin and cryptocurrency transactions.
The above is because DAC8 requires digital asset service providers such as exchanges to report user transactions for sales, exchanges, and remittances to tax authorities starting in 2026.
The bill would require profits from speculation and trading to be declared and taxed as income, reducing the anonymity that attracted many investors. In the case of tax debts, the Treasury Department can directly track, seize and, if necessary, confiscate digital assets, thereby deterring tax evasion.
As previously reported by CriptoNoticias, the European Commission estimates that transposing Europe’s DAC8 directive in all member states would make it possible to raise an additional €2.4 billion within the EU through strengthened fiscal controls.