Crypto Income Tax in Spain 2025: Your Essential Guide to Compliance

Understanding Crypto Taxation in Spain for 2025

As cryptocurrency adoption grows in Spain, understanding the tax implications becomes crucial for investors and traders. Heading into 2025, Spain maintains a clear regulatory stance: all crypto-related income is taxable. Whether you’re trading Bitcoin, earning staking rewards, or receiving NFT dividends, the Spanish Tax Agency (Agencia Tributaria) requires declaration and payment. This guide breaks down the 2025 crypto tax landscape, helping you navigate obligations while avoiding penalties.

Current Framework vs. 2025 Projections

Spain’s crypto tax rules are anchored in existing laws but face potential refinements by 2025:

• 2024 Baseline: Crypto profits taxed as capital gains (19-26%) or income tax (19-47%), with mandatory Modelo 720 declarations for overseas holdings.
• 2025 Expectations: Tighter enforcement of DeFi transactions, clearer NFT classification, and possible alignment with EU’s DAC8 regulations for enhanced reporting.

Taxable Crypto Activities in Spain (2025)

Trading and Selling Cryptocurrencies

Profits from selling crypto (e.g., BTC to EUR) are capital gains. Tax rates for 2025:

1. First €6,000: 19%
2. €6,000–€50,000: 21%
3. €50,000–€200,000: 23%
4. Above €200,000: 26%

Staking, Mining, and Lending Rewards

Passive crypto income is treated as ordinary income, taxed at your marginal rate (19-47%). This includes:

• Staking yields (e.g., from Cardano or Ethereum)
• Mining rewards
• Interest from crypto lending platforms

Airdrops, Hard Forks, and NFTs

Free token distributions may be taxed as miscellaneous income at flat 19% if they derive from marketing activities. NFT sales follow capital gains rules, while creator royalties are ordinary income.

Step-by-Step: Calculating Your 2025 Crypto Tax

1. Track All Transactions: Log buys, sells, swaps, and rewards using tools like Koinly or CoinTracking.
2. Convert to EUR: Use exchange rates at transaction time (Bank of Spain references).
3. Categorize Gains/Losses: Separate short-term (<1 year) and long-term holdings.
4. Offset Losses: Capital losses reduce taxable gains (max €25,000 offset against other income).
5. Apply Tax Rates: Use brackets for capital gains or marginal rates for income.

Critical Deadlines and Reporting

• Modelo 720: Report overseas exchange balances >€50,000 by March 31, 2026.
• Income Tax (IRPF): Declare all crypto income/gains in June 2026 for 2025 earnings.
• Form 172: For corporate crypto activities (filed quarterly).

Penalties for Non-Compliance

Failure to report accurately risks:

• Fines of 50-150% of unpaid tax
• €5,000+ penalties for missed Modelo 720 filings
• Criminal charges for evasion >€120,000

Tax Optimization Tips for 2025

• Hold Long-Term: Assets held >1 year qualify for reduced capital gains rates.
• Harvest Losses: Sell depreciated assets to offset gains.
• Deduct Expenses: Claim mining hardware costs or trading fees.
• Explore SICAVs: Investment funds with 1% tax rate (requires €2.4M+ capital).

FAQs: Crypto Taxes in Spain 2025

1. Do I pay tax if I transfer crypto between my own wallets?
No—transfers without disposal (e.g., moving BTC from Coinbase to Ledger) aren’t taxable events.

2. Is crypto gambling winnings taxable?
Yes—profits from crypto casinos or prediction markets are taxable as miscellaneous income at 19%.

3. How does Spain tax DeFi yield farming?
Rewards from liquidity pools are ordinary income. Impermanent loss may be deductible against gains.

4. Are there tax-free thresholds?
Only capital gains under €1,000/year are exempt. All other income is fully taxable.

5. Can the tax authority track my crypto?
Yes—Spanish exchanges report user data to Agencia Tributaria. DAC8 EU rules will expand cross-border tracking by 2025.

6. What if I lost money on crypto?
Capital losses can be carried forward 4 years to offset future gains.

Disclaimer: This guide reflects expected 2025 rules based on current legislation. Consult a gestor or tax advisor for personalized advice, as regulations may evolve.