Guide to Crypto Taxes in Spain for 2026

Yes. Every sale, swap, or payment in crypto is a taxable event in Spain. Crypto received through salary, staking, mining, or airdrop is taxed the day you control it.

Savings-income (capital-gains) brackets for 2025

• Up to €6,000 – 19%

• €6,001 – €50,000 – 21%

• €50,001 – €200,000 – 23%

• €200,001 – €300,000 – 27%

• Above €300,000 – 28%

General-income bracket (state + regional composite)

• Progressive from 24% to 47% on mining, staking, salary or DeFi income.

Buying and holding cryptocurrency

Buying with euros and wallet-to-wallet transfers are not taxed.

Selling cryptocurrency

Selling ADA, BTC, or any token for euros realizes a gain or loss. Spain uses FIFO (PEPS) to identify units sold.

Mining and staking cryptocurrency

Rewards are general income at market value on receipt. A later sale of those coins is a separate capital-gain event.

Crypto-to-crypto trades taxed

Swapping one coin for another counts as two disposals. Work out the euro value of the coin you give up and report any gain.

Receiving cryptocurrency as payment

Freelance fees or wages paid in crypto are employment or professional income and subject to PAYE withholding.

Report net crypto gains as savings income in Box 0300 of Modelo 100. Losses carry forward for 4 years and can offset only future savings gains.

• Capital losses offset current-year savings gains.

• Unused losses carry forward four tax years.

• Business mining losses offset general income within the normal rules.

• No strings attached: taxed as savings income when sold, with zero cost basis.

• Promotional or work-related: taxed as general income on the day received.

• Lending or yield-farming interest is general income at receipt.

• Depositing tokens into a liquidity pool is usually a taxable swap.

• Removing liquidity realizes gains or losses on the LP tokens returned.

Learn how to reduce your crypto taxes.

• Standard corporate rate: 25% on realized gains.

• Start-ups that qualify under the Ley de Startups: 15% on the first two profitable years.

• Crypto inventories must follow the chosen cost-basis method consistently.

Domestic exchanges register with the Bank of Spain for AML controls. Residents must file Modelo 721 if their combined foreign-exchange and wallet balance exceeds €50,000 on December 31st.

Paying with crypto disposes of the coin and realizes a gain. The merchant recognizes euro revenue and charges VAT on the product or service, not on the crypto itself.

• Hold tokens for at least one year to defer gains.

• Harvest losses before December 31st.

• Donate crypto to an approved charity to claim deductions up to 80% on the first €150 and 35% on the excess.

General income combines state and regional scales, peaking at 47% for income above €300,000. Crypto mining, staking rewards, and salary fall under these rates.

The Agencia Tributaria receives data from Spanish exchanges, EU DAC7 reports and blockchain analytics, so non-disclosure is risky.

• Buying crypto with fiat.

• Moving coins between your own wallets.

• Gifts below donation-tax thresholds.

• Inheritances within regional allowances.

A national wealth tax applies once net assets exceed €700,000 after allowances. Rates range from 0.2% to 3.5%, though regions like Madrid grant a full rebate.

Regional wealth-tax variations

Valencia peaks at 3.75% while Andalusia mirrors Madrid with a 100% rebate. Check your autonomous community’s rules.

Keep invoices, exchange CSVs, wallet statements, dates, euro values and fees for all trades, swaps and rewards for at least four years.

June 30th of the year after the tax year

File and pay Personal Income Tax with Modelo 100 (for example, June 30th 2026 for the 2025 tax year).

March 31st of the year after the tax year

Submit Modelo 721 if, at any point during the year, the value of your foreign-held crypto exceeded €50,000.

You will need full transaction histories, staking logs, DeFi yields, and any Model 721 confirmations. TokenTax imports these files and reconciles missing data.

1. Log in to Renta Web.

2. Open Modelo 100 and find the savings-income section.

3. Enter total crypto gains or losses in Box 0300.

4. Add mining or staking income to Box 0072.

5. Attach Modelo 721 if foreign holdings exceed €50,000.

6. Submit and pay by June 30th, 2026.

Model 720 declaration and crypto

Model 720 no longer covers crypto. Use Model 721 for foreign wallet balances.

Use the AEAT Renta Online portal. Report Cardano or any other crypto gains in Modelo 100 under the savings-income section, declare foreign wallets worth more than 50,000 euros in Modelo 721, and include crypto in Modelo 714 if your net assets exceed the regional wealth-tax threshold. Pay any balance by the deadline.

Pro tip
For more international crypto education, see our articles on crypto tax free countries and crypto tax in Portugal.