In a scenario where the cryptocurrency ecosystem gradually matures, Spain is moving towards a more specific and structured regulatory framework. With the full implementation of the MiCA Regulation (Crypto Asset Market) and the entry into force of the so-called Administrative Cooperation Directive (DAC8), 2026 has emerged as a year to consider.
MiCA will be fully applied at European level from December 30, 2024, and will be fully implemented in Iberian countries in mid-2026. This regulation Aims to standardize rules for the issuance and marketing of cryptocurrencies in the European Union (EU), they are classified into categories such as utility tokens, security tokens, and stablecoins.
In Spain, the National Securities Market Commission (CNMV) is the body that oversees its application. As of this writing, the organization has more than 60 companies registered to handle digital assets in the country. These include everything from banking companies to crypto exchanges such as Cecabank, Banco Bilbao Vizcaya Argentaria (BBVA), and Renta 4 Banco.
In early December, the Spanish government applied the full transition period set out in the MiCA Regulation. Extended until July 1, 2026. This regime will benefit companies that were already providing cryptocurrency services under the previous legal framework before such regulations were approved.
Precisely, this extension allows such companies to continue operating under the previous national regulations without requiring immediate full approval of the new provisions. Looking ahead to 2026, this gives them further room for adaptation, but it is also a turning point.
From July 1st, Only companies with full MiCA authorization can continue to operate.which will require full compliance with European standards, and companies that do not receive approval will be shut down.
It is worth mentioning that another important pillar of regulation in Spain will deal with the financial aspects if MiCA establishes the rules for operating the market. This is where the Administrative Cooperation Directive (DAC8) comes in, which was approved by Parliament in October 2025, as reported by CriptoNoticias.
DAC8 takes effect on January 1, 2026This will require exchanges and service providers to automatically report transactions, balances and user movements to EU tax authorities. This includes sales, exchanges, and transfers and eliminates anonymity in regulated operations. This law allows virtual currencies to be seized for tax liability.
Treasury will have full access to cryptocurrency movements
As digital asset tax expert José Antonio Bravo Mateu explained: DAC8 significantly expands the range of information available to Treasury: «From 2027 you will have information on all movements made during 2026 (…). It will be almost complete information,” he said in a recent interview.
The advisor emphasizes that while traditional banking systems only report balances over EUR 250,000, “this information is much more than that required by banks” because with digital assets “even the exchange of EUR 2 for a virtual currency is not overlooked”.
Therefore, Bravo sent a strong message to users: “From January 1, 2026, if you hold crypto assets or euros on an exchange in Spain, you will be able to seize them directly without the need for complicated procedures in advance.”
and that’s it The Treasury Department may order the supplier to freeze or liquidate assets necessary to resolve tax debts.this privilege will also be extended to European exchanges once automatic data exchange is enabled.
This is why the tax consultant warns about the importance of privacy and the sovereign use of Bitcoin (BTC) outside of centralized platforms. he claims that Certain anonymous acts are perfectly legal as long as they do not constitute normal economic activity..
«You can buy (Bitcoin) peer to peer (P2P) Just like you can buy all kinds of products from individuals (…). If it is not carried out regularly, it is not a crime and there is no economic activity (…). “You can buy phones, computers, bread from individuals…” said the expert.
These users were encouraged to use privacy toolslike mix (Mixer) of virtual assets. These are tools designed to increase the privacy of transactions on networks such as Bitcoin. They work by pooling funds from multiple users into a common pool, mixing them, and redistributing them to different addresses.
“It’s not a crime to buy (Bitcoin via P2P) once a week, once a month, when you have the money. Just like taking it to mix It’s not a crime. Even if I later sell it again peer-to-peer, I have not committed any violation against the Treasury and the Treasury is not going to say anything to me,” Mateu said.
But he added: peer-to-peerr), which is or may be an economic activity (…). There is a gap.
Prepare for 2026
Given the increased relevance of the Spanish sector this year, it is important not to confuse the MiCA and DAC8 ranges. Risk and regulatory consultant Cerro Uno clarifies this nuance and warns of what he considers to be a “feast” ahead for the Treasury.
DAC8 enters into force on 1 January 2026 and is the eighth update to the European Union Administrative Cooperation Directive (DAC). This obligates crypto asset service providers to: Report user transactions to tax authorities Residents within the EU.
Each platform will be required to submit a report on its movements in 2026 between January 1, 2027 and September 30, 2027, after the end of the year. The aim is to strengthen the legal framework on automatic exchange of information (AEOI) to combat tax evasion and evasion.
Zero One explains this with a clear example. It stipulates that if cryptocurrencies are stored in an entity with tax residence in Spain, such as Binance Spain SL, the provider must report directly to the Treasury through Forms 172 (balances as of December 31) and 173 (operations carried out during the year). Both require disclosure.
On the other hand, in the case of foreign CEXs within the EU, such as Kraken in Ireland, experts reveal that these domestic models are not presented to the State Tax Authority (AEAT). However, as DAC8 requires automatic equivalent exchange, the Treasury receives detailed information about balances and transactions from users in Spain.
In any case, it is important to note that Self-custody rights are outside this system.. In this regard, Cero Uno emphasizes that if users store their cryptocurrencies in personal wallets, these assets are not “located” in Spain or abroad from a tax perspective.
This means that there are no third-party providers that report such assets in the aforementioned models or 721s. The latter is a useful declaration regarding virtual currencies located abroad and only applies if the assets are held in an entity outside Spain.
Cryptocurrency under a microscope: suggestions and reactions
Expert recommendations to prioritize self-custody resonate with widespread criticism of Spain’s regulatory approach. Analyst José Luis Cava, author of The Art of Speculated, criticized the lack of domestic attention to the US experience.
According to the authors, some government parties are researching ways to declare citizens’ Bitcoins confiscatory, but in the United States taxpayers will be able to pay federal taxes on Bitcoin without facing additional capital gains.
Cava was referring to a US legislative proposal known as the Bitcoin for America Act, which would allow citizens to settle their federal tax debts directly with Bitcoin, and would not imply the recognition of taxable capital gains on certain transactions.
Moreover, when he talks about the actions of some political parties, he refers to the amendments submitted by the Xmal group (minority partner of the Spanish coalition government) to the draft law on measures for the prevention and combat of tax fraud, which was debated in parliament in October-November 2025.
These updates are intended to amend general tax law. To increase the tax burden on virtual currency profits. Additionally, it proposes to declare all digital assets as seizable assets, allowing tax authorities to sell them.
However, in reality, these changes have not been ignored amid criticism that the administrative and tax burdens are higher than in other countries. As reported by CriptoNoticias, just a few days ago, it called on industry stakeholders to unite in opposition to the letter.
The conference aims to coordinate crypto asset service providers (CASPs), subsidiary companies and holders to present proposals to rein in regulation, protect user privacy and prevent investment flight.
Spanish cryptocurrency regulation is moving towards a scenario that strengthens fiscal management and market supervision, with MiCA and DAC8 as fundamental pillars. But debates over privacy, user rights, and potential tax increases mean the transition will not be easy. In the face of potential changes, it is important to stay informed as well as vigilant.