By 2026, Spain will have updated its legislation to align with European MiCA (Markets in Crypto-Assets) standards and the DAC8 directive. The objective is clear: harmonise national rules with European ones. Specifically, this involves strengthening the powers of the Spanish tax authorities and enforcing total transparency, requiring both crypto platforms and users to declare their assets more rigorously.
End of anonymity: total tax monitoring of the crypto market
The Spanish tax authorities are preparing for near-total access to cryptocurrency transactions. With the introduction of the European DAC8 directive on 1 January 2026, they will be able to monitor crypto activity with unprecedented detail. José Antonio Bravo Mateu, a digital taxation expert, warns that the era of discretion on centralised platforms is coming to an end.
By 2027, the tax authorities will have a complete record of all transactions carried out in 2026. Unlike banks, which generally only report balances exceeding €250,000, the new crypto regulations will require reporting of all transactions, even small exchanges. Mateu advises that keeping funds on a centralised platform in Spain will be especially risky from 1 January 2026.
In the event of tax debts, the Treasury may freeze or liquidate assets immediately, without complex procedures. Once automatic data exchange is implemented across Europe, this capacity will extend to all platforms on the continent.
The expert also recommends returning to the fundamentals of Bitcoin: sovereignty and confidentiality. Investors should favour self-custody via non-custodial wallets and peer-to-peer (P2P) exchanges. “Buying bitcoins via P2P is like buying any item from a private seller,” he explains. Advanced tools, such as mixing services, can further protect user privacy.
However, regular, repeated transactions could classify an individual as engaging in professional economic activity, a distinction that will be considered under the law.
See also: Crypto Anonymity Set to End Across Europe in 2026
MiCA launch in Spain scheduled for mid-2026
While the rest of Europe has operated under MiCA regulations since December 2024, Spain is using the transition period offered by Brussels to ensure a smooth and robust implementation. Full compliance with MiCA will take effect by mid-2026.
By next summer, digital assets will be clearly classified, with stablecoins distinguished from utility and security tokens. Service providers must meet uniform and rigorous compliance requirements. The CNMV has updated regulations and published an FAQ to guide citizens. Only companies with full MiCA authorisation will be allowed to operate in Spain after 1 July 2026.
Adoption of MiCA and DAC8: Is Spain being too strict?
Spain’s adoption of MiCA and DAC8 was officially approved last October, though the legislative move was not unanimously supported. As a European Union member, Spain is legally obliged to transpose EU regulatory frameworks, leaving limited room for deviation.
While harmonising the crypto framework, Spain’s reforms are being criticised for imposing stricter controls than other jurisdictions, making it one of the strictest regulators in the EU. José Luis Cava, author of The Art of Speculation, has highlighted the contrast with other countries. For example, the proposed Bitcoin for America Act would allow Americans to pay federal taxes in Bitcoin without capital gains tax—a flexibility not present in Spain.
Heading for unprecedented tax and crypto oversight
By integrating MiCA and DAC8 as regulatory pillars, Spain is establishing unparalleled fiscal and market oversight. Beyond compliance, this transition is complex, balancing the risks of increased taxation and the end of anonymity. Investors should remain cautious and informed as these regulations come into force.
Source: Comisión Nacional del Mercado de Valores, European Commission
