Spain’s Lawmakers Push for Higher Taxes on Bitcoin and Other Crypto Assets

Highlights:

• Spain’s lawmakers have proposed new rules targeting cryptocurrency taxation.
•  The new bill could see the tax rate rise from 30% to 47% for individual crypto investors.
• The new proposal also aims to classify cryptocurrencies as seizable assets.

According to a local news outlet, Spain’s Sumar Parliamentary Group has proposed significant changes to three of the nation’s tax laws, with a focus on how the country treats cryptocurrencies. The bill, submitted to the Congress of Deputies, seeks to clarify rules on reporting, taxation, and warnings about crypto risks.

🚨SPAIN WANTS A BIGGER CUT!!!

Spain’s government just proposed new laws that would slam crypto gains with higher taxes.

Pushing them into brackets as high as 47% and treating all crypto as fully seizable assets.

Absurd!! pic.twitter.com/Pzp62gVb4s

— Kyle Chassé / DD🐸 (@Kylechasse) November 26, 2025

New Bill Targets Previous Legislation

The new set of rules will modify Spain’s General Tax Law 58/2003, the Income Tax Law 35/2006, and the Inheritance and Gift Tax Law 29/1987, impacting taxation on profits generated from crypto assets. Currently, these profits fall under the savings tax rate, which could reach 30%. However, the proposal wants to move them to the general income tax rate, which could rise as high as 47% for individuals and 30% for companies.

Another part of the new bill will mandate the National Securities Market Commission (CNMV) to create a simple “risk traffic light” for cryptocurrencies. This will be displayed on trading platforms in Spain, warning users about issues relating to poor registration, low liquidity, weak supervision, and banking risks.”

The proposal will also make all crypto assets seizable, implying that they could become the government’s property if needed. Before now, only digital assets covered by the European Union’s (EU) Markets in Crypto-Assets regulation were classified as seizable crypto assets.    

Experts Criticize New Proposal

Despite prioritizing investors’ security, some industry experts have faulted the new bill. Economist and tax advisor José Antonio Bravo Mateu described the rule modifications as worthless attacks on Bitcoin (BTC). He argued that the government lacks jurisdiction over Bitcoin held in self-custody wallets, making the new bill unnecessary. The Economist also noted that many Bitcoin holders may leave the country if the tax becomes unbearable. 

Mateu remarked:

“The only thing they achieve with these measures is that their holders resident in Spain think about fleeing when BTC rises so much that they don’t care what politicians say.”

Speaking on classifying crypto assets in the seizable category, lawyer Chris Carrascosa said the idea will be difficult to implement. According to her, approved central providers in Spain are prohibited from holding cryptocurrencies outside MiCA’s jurisdiction, making it difficult for the government to seize such assets. She also argued that if the new bill becomes law, the entire crypto tax system in Spain will fall into complete disarray. The lawyer added that Spain already has a heavy tax system that will only become worse with the new plan.

Carrascosa stated:

“This modification is unenforceable and does not add value. It only complicates the life of the Cryptoasset Service Providers, who are the ones who have to execute the seizure orders.”

Contrary to Mateu and Carrascosa’s criticisms, two tax inspectors, Juan Faus and José María Gentil, prefer a special tax system that will target only Bitcoin. Their idea treats Bitcoin differently from other cryptocurrencies, with lower tax rates on Bitcoin profits.

Spain’s Sumar parliamentary group has proposed a legislative reform aimed at significantly increasing taxes on Bitcoin and other crypto assets. The proposal would shift taxation of crypto gains from the current “savings tax base” (capped at 30%) to the “general tax base,” where…

— Wu Blockchain (@WuBlockchain) November 26, 2025

Japan Slashes Rates as Spain’s Lawmakers Push for Higher Taxation on Digital Assets

While Spain is proposing tax increments on cryptocurrencies, Japan’s Financial Services Agency (FSA) is preparing to cut tax rates on crypto assets from 55% to 20%. The FSA’s new proposal also entails reclassifying 105 cryptocurrencies, including Bitcoin and Ethereum (ETH), as financial products under the Financial Instruments and Exchange Act. The amendment bill will be presented to the national diet by 2026.