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Spain Working on Bill to Force Crypto Holders to Disclose Assets, Gains
The planned bill comes as part of broader legislation aimed at cracking down on tax fraud, a government spokesperson said.
Spain's cryptocurrency users may soon have to disclose their holdings to the country's tax agency.
STORY CONTINUES BELOW
- According to government spokeswoman Maria Jesus Montero on Tuesday, the Spanish government is drafting legislation that would force cryptocurrency holders to disclose their holdings and any profits if passed.
- The planned bill comes as part of broader legislation aimed at cracking down on tax fraud, Montero said, according to a Reuters report.
Also read: OECD Preparing Crypto Tax Reporting Framework for World’s Largest Economies
Omkar Godbole
Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
