Crypto tax and reporting

It is for anyone thinking about moving to Spain, planning the move or already making it. You will know which crypto events Spain taxes and what you must report and prove.

Start with "Selling, swapping and spending crypto: what Spain counts as taxable". It shows how to spot a taxable event and work out your gain, and the other pages build on it.

Then pick what fits your situation:

• "Staking, DeFi, airdrops and mining income in Spain" if you earn rewards or yield.
• "Reporting crypto held abroad (Modelo 721) and what exchanges tell Hacienda" if your coins sit on foreign exchanges or wallets.
• "Rebuilding crypto records and cost basis, including coins bought before moving" if your history is scattered or you bought before arriving.

Bank source-of-funds questions and general ETF tax are not covered here.

Key rules

• Modelo 721 threshold: You must file Modelo 721 if crypto you keep with foreign providers is worth more than €50,000 at 31 December, and later only if the balance rises by more than €20,000.
• FIFO: Gains are matched first-in first-out for each cryptocurrency across all your wallets and exchanges together.
• Swaps are taxable: Swapping one crypto for another, including a stablecoin, or spending crypto on goods is a taxable disposal, while moving crypto between your own wallets is not.
• Modelo 721 deadline: Modelo 721 is filed online between 1 January and 31 March for the previous calendar year.
• Classify first: Staking, lending, airdrops and mining are each classed as a different type of income, with different tax bases.
• Received value: The euro value on the day you receive a reward is declared as income and becomes its purchase cost.

Documents you may need

Income and work

• Your own accounting records and reports from crypto tax tools — Rebuilding crypto records and cost basis, including coins bought before moving

The home and the lease

• Contracts for any crypto bought or sold under a written agreement — Rebuilding crypto records and cost basis, including coins bought before moving

Payments and receipts

• Trade confirmations and invoices for each purchase — Rebuilding crypto records and cost basis, including coins bought before moving
• Screenshots or exports of the price source you used for each valuation — Rebuilding crypto records and cost basis, including coins bought before moving

Other documents

• An electronic certificate — Reporting crypto held abroad (Modelo 721) and what exchanges tell Hacienda
• Exchange statements and full transaction histories — Rebuilding crypto records and cost basis, including coins bought before moving
• Wallet and blockchain transaction records showing dates — Rebuilding crypto records and cost basis, including coins bought before moving

Crypto tax and reporting: questions that cross several articles

Do I owe tax if I swap crypto into a euro-pegged stablecoin?

Yes, swapping into a euro-pegged stablecoin is a taxable disposal, and it fixes the gain or loss on the crypto you gave up. The stablecoin itself usually shows little or no gain when you later convert it, but you still need to record that disposal. Read "Selling, swapping and spending crypto: what Spain counts as taxable", then "Rebuilding crypto records and cost basis, including coins bought before moving" to keep the records.

Does moving crypto to my own wallet cause tax or paperwork?

No, moving crypto between your own wallets or exchanges is not taxable, but the network fee paid in crypto can count as a small disposal. Keep the transfer date, addresses, amounts and fees so you can prove your cost basis. Read "Rebuilding crypto records and cost basis, including coins bought before moving" for the records, and "Reporting crypto held abroad (Modelo 721) and what exchanges tell Hacienda" if the new home is abroad.

What data do I need to apply first-in first-out across several wallets?

You need the date, quantity, euro cost, fees and asset for every purchase, plus the date, quantity, euro proceeds and fees for every disposal. See Selling, swapping and spending crypto: what Spain counts as taxable.

How is a gain from paying for goods with crypto taxed?

The gain is the euro value of what you received minus the euro cost of the crypto you spent, and it is taxed in the savings base. For 2025 the rates were 19% up to €6,000, 21% to €50,000, 23% to €200,000, 27% to €300,000 and 30% above that. Read "Selling, swapping and spending crypto: what Spain counts as taxable" for the worked method.