The Treasury will be able to seize bitcoins to settle tax debts.

BarcelonaThe Treasury has legal support ready to seize bitcoins and other crypto assets to settle tax debts. The ministry headed by the First Vice President of the Spanish government, María Jesús Montero, has submitted for public information until September 16 a draft royal decree that regulates the information obligations of crypto asset providers, which in addition to cryptocurrencies include tokens, NFTs and technology blockchain. The rule is expected to come into force once it is published in the Official State Gazette (BOE) as of January 1st.

In order to carry this out, the general collection regulations approved by Royal Decree of 2005 are being modified. In this way, the procedure for the seizure of cryptoassets included in Law 58/2003, of December 17th, is being developed. This will be once the new regulation that reforms the general tax law and the Personal Income Tax Law, which are now before Congress, is modified. The current regulations contemplate the seizure of cash, bank accounts, securities, credits, salaries, pensions, and real estate and rights over these assets. To all this will now be added cryptoassets, which are gaining momentum, especially virtual currencies such as bitcoin and theEthereum, among others, promoted and encouraged by the current Trump administration in the United States.

Before December 31

The European DAC8 directive requires Spain to approve and publish the necessary measures to implement this control by December 31st of this year (some aspects, by 2027 or 2029). Therefore, these obligations will become fully effective in the coming years. This European regulation adapts to the new international cooperation framework on cryptoassets promoted by the OECD, which brings together the world's most advanced economies.

If the tax debt is final, the Tax Agency may order the seizure of the cryptoassets necessary to settle it, which will be at the same level as cash or bank accounts. If the cryptoassets are in self-custody, the administration may secure the devices or keys where they are stored. Furthermore, it is established that the value of the seized cryptoassets will be determined according to the market on the date of seizure.

Cryptoasset service providers and operators will be required to obtain a declaration from their users stating, among other information, their tax residency. This obligation must be fulfilled with respect to transactions carried out in 2025.

Spain ranks fifth in Europe in cryptocurrency investment, according to data from the Bank of Spain. This trend in assets that until now have been very opaque has put taxpayers who operate with digital assets under the spotlight of the Treasury. The objective of the new regulations is to combat tax fraud and money laundering. Therefore, the reporting obligations for banks and operators of these types of assets are strengthened.