Spain to require cryptocurrency investors to disclose their assets

The Spanish government is drafting a bill that would require cryptocurrency holders to disclose their assets and the profits they have earned, according to Reuters.

A government spokesperson, Maria Jesus Montero, clarified that the regulatory measure will form part of a broader package of laws aimed at combating tax fraud.

Since 2018, the Spanish Tax Agency (AEAT) has monitored residents’ cryptocurrency transactions to prevent fraud and money laundering.

In 2020, the agency noted a fourfold increase in cryptocurrency investors in the country.

Earlier in Spain, a bill was introduced that would require cryptocurrency companies to be registered with the central bank.

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