How is crypto taxed in Spain?

Crypto taxes in Spain fall mainly under personal income tax (IRPF). When a Spanish resident sells crypto or swaps it for another coin outside a business, the profit or loss is a capital gain or loss in the savings base, and as of October 2026 that base is taxed on a progressive scale from 19% to 30%.

How does Hacienda tax crypto gains?

The Agencia Tributaria (Hacienda) treats each crypto as a separate asset. Your gain is the sale value minus what you paid, both in euros, and fees directly tied to the trade can be counted. If you sell below market value, market value is used instead.

Swapping one crypto for another, such as bitcoin for ether, is taxable even though no euros change hands. The value used in the swap becomes your cost for the coin you received. When you sell part of a holding of the same coin, Hacienda assumes the earliest units bought are sold first, a method known as FIFO.

What is the crypto tax rate in Spain?

Gains from selling or swapping crypto go into the savings base. Ley 7/2024 changed that scale from January 1, 2025. Combining the state and regional halves, the rates are:

• 19% on the first 6,000 euros
• 21% from 6,000 to 50,000 euros
• 23% from 50,000 to 200,000 euros
• 27% from 200,000 to 300,000 euros
• 30% above 300,000 euros

According to a Spanish tax guide updated in April 2026, rewards from staking and lending are treated as income from movable capital, also in the savings base, while mining run as a business is taxed as an economic activity. The same guide notes that net savings losses can offset up to 25% of certain other savings income, with any remainder carried forward four years. For how losses work in general, see crypto losses and taxes.

Who has to file the Modelo 721?

The Modelo 721 is an information return about crypto held abroad. It applies to Spanish residents whose crypto is held by a third-party custodian outside Spain. Coins in your own wallet, where you control the private keys, are not reported on it. The tax guide cited above puts the threshold at more than 50,000 euros of foreign-held crypto on December 31, with a new filing needed if the balance rises by more than 20,000 euros. The filing window for 2025 balances ran from January 1 to March 31, 2026.

Spanish exchanges and custodians report their customers' balances and transactions directly to Hacienda on Modelos 172 and 173. For the self-custody distinction, see custodial vs non-custodial wallets.

Does crypto count for wealth tax in Spain?

Yes, where wealth tax applies. Crypto is valued as of December 31, using the price quoted at 23:59 that day on major trading platforms or price sites. To compare Spain with its neighbors, see how crypto is taxed in Portugal and crypto tax around the world.

Rules differ by country and change often. Check the tax authority or a qualified professional for your own situation.