Spain’s Tax Authority Gathering Information on Crypto Traders

April 7, 2018

Tax authorities in Spain have officially requested information on the country’s cryptocurrency traders and investors at more than 60 companies, as the institution’s source in the know reported to CoinDesk.

Requests are told to have been sent to 16 banks, about 10 crypto exchanges and crypto ATM operators as well as 40 organizations that accept payments in cryptocurrency.

Spanish tax agency collects information on cryptocurrency transactions and parties to them. The authority asks for personal data, bank accounts and bank cards data, amount of transactions and cryptocurrency rate at the moment of execution.

The source has added, data gathering is a premise for far more solid steps including full-fledged study of this industry. The Tax Agency is also reported to analyze the ways cryptocurrencies are used within the country.

Note that along with crypto industry growth tax bodies began placing greater focus on it as revenues from this activity are not taxable.


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