Spain is preparing for a major shift in how cryptocurrencies are regulated and monitored. What was once a loosely supervised market is moving toward a tightly controlled financial system, with full oversight expected by mid-2026.
This change is tied to the European Union’s MiCA framework, which will standardize crypto regulation across member states. In Spain, enforcement will fall under the country’s market regulator, the National Securities Market Commission. The CNMV already supervises more than 60 registered crypto firms, including banks and custody providers, and will soon apply full institutional rules to digital assets.
Under the new regime, compliance will no longer be optional. Companies operating in Spain must meet EU licensing standards or exit the market. The government has extended the transition period until July 1, 2026, giving firms time to adapt, but the deadline is strict. Any provider that fails to obtain full authorization will be forced to shut down its Spanish operations.
DAC8 Changes How Crypto Is Reported
While MiCA focuses on market structure, a separate law known as DAC8 will reshape how crypto activity is reported to the state. Approved in October 2025, DAC8 takes effect on January 1, 2026.
Under this directive, crypto platforms must report every transaction to Spain’s Tax Agency. Unlike traditional banking rules, there are no minimum thresholds. A transaction worth two euros will be reported the same way as one worth two million.
This creates a reporting system that is broader than anything previously applied to financial markets. Platforms operating in Spain, including Binance and Kraken through their European entities, will be required to submit full transaction records by 2027.
As automated reporting expands, private self-custody wallets stand out as one of the few areas not directly covered by DAC8. While centralized platforms must report user activity, assets held in personal wallets remain outside this system, at least for now.
This creates a clear divide. Users who rely on centralized services will face full transparency and potential asset seizure, while those who self-custody retain a narrowing space of legal privacy.
Spain Direction Differs From Global Trends
Spain’s regulatory push is happening alongside broader political proposals. Some lawmakers have suggested raising capital gains taxes on crypto to as high as 47 percent and treating digital assets as fully seizable property.
At the same time, other countries are taking a different approach. In the United States, proposed legislation such as the Bitcoin for America Act would allow citizens to pay federal taxes in Bitcoin without triggering capital gains taxes. This would treat Bitcoin more like a strategic asset than a speculative one.
The contrast is becoming more visible. Spain is moving toward heavy oversight and taxation, while other jurisdictions are experimenting with incentives and integration.
As a result, Spanish crypto companies and investors are becoming more vocal. Many are working to protect user privacy and prevent capital and talent from moving to more crypto-friendly countries.
With 2026 approaching, Spain faces a defining moment. The outcome will shape not only how crypto is used in the country, but also whether innovation stays within its borders or looks elsewhere.
