Spanish Authorities Force Cryptocurrency Holders to Identify Themselves

[kreslik.news]

Tremble in fear, Spanish cryptocurrency holders, the taxman is coming to you. A recent report by ABC Economia indicates that authorities in the country are going to be clamping down on residents with crypto holdings.

Currently, any profit derived from a cryptocurrency transaction is subject to income tax laws – although transactions made with Bitcoin specifically are exempt from value-added tax.

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Regulators have now put forward a draft-law, which the government approved last Friday, that will force cryptocurrency holders to identify themselves. They will also have to state how much cryptocurrency they have ... (read more)