The Ministry of Finance of Spain is preparing to introduce a new tax reform that would grant the government the authority to seize cryptocurrencies and digital collectibles in cases of unpaid taxes, according to the Spanish daily newspaper El Economista.
The proposed reforms to the General Tax Law, specifically Article 162, would allow the local tax agency to confiscate crypto assets and digital collectibles belonging to taxpayers with overdue taxes.
The Ministry of Finance already possesses information on taxpayers’ crypto holdings, as individuals and companies are required to declare their crypto assets held abroad starting this year.
Spain has taken a leading role among European countries in enforcing comprehensive tax controls on cryptocurrencies. Taxpayers are obligated to pay taxes on profits or losses related to crypto in their personal income tax filings.
Spanish residents are required to declare their crypto assets held on foreign crypto platforms by March of this year. This declaration obligation applies to those whose cryptocurrency holdings exceed €50,000. For individuals with crypto assets stored in self-custodial wallets, the existing wealth tax form, Form 714, is designated for declaration purposes.
The Spanish Ministry of Economy and Digital Transformation has also announced that the implementation of the EU Markets in Crypto-Assets Regulation (MiCA) framework will be brought forward to December 2025, six months ahead of the official deadline.