Report: Only 5.3% of Spanish Crypto Investors Have Received a Warning to Decl...
Only 5.3% of Spanish crypto investors have received a warning to declare income taxes, according to a report in local media. If accurate, this would mean that only 233,000 investors, a minuscule portion of the estimated 4.4 million Spanish citizens that have delved into the crypto world with investment ideas in mind, were contacted by the tax agency. Spanish Tax Agency Falls Flat on Crypto Vigilance Only a small portion of cryptocurrency investors and users in Spain have been contacted by the national tax agency in regards to their crypto operations from last year. The....
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Spanish authorities are enforcing their tough stance on the cryptocurrency industry, and the national tax agency seems to be taking it very seriously. Now, the Hacienda issued 14,800 warning letters to Spaniards under their watch for allegedly having failed or need to declare crypto holdings. Fines Could Be ‘Over $5,900’ if a Crypto Holder Fails to Declare Mandatory Tax Filings According to Telemadrid, Spain’s tax agency was clear on making cryptos taxable, and notifications have already arrived to their correspondent receivers. Spanish crypto holders should declare their....
Cryptocurrency businesses have continued to receive pressure globally from different regulatory bodies. For example, the Spanish National Securities Market Commission (CNMV) recently released a warning to many financial markets and crypto-related businesses. The warning is on unregistered services which they offer. From the official document from CNMV, about 11 entities received the warning from the regulatory body on August 16. The document stressed the non-compliance of these entities with the registry of the commission. Among the listed entities are some prominent crypto trading....
The Spanish financial markets watchdog and the country’s central bank criticized — again — cryptocurrencies as an investment asset. The entities issued a joint statement warning about the high risks the cryptocurrency market poses. Document: Crypto Adoption as a Payment Means ‘Is Still Limited’ Per the paper, the Bank of Spain and the National Securities Market Commission (CNMV) reaffirmed their stance against considering bitcoin (BTC) as a means of payment. After dismissing cryptos as secure investment assets, they also pointed out the lack of regulation in....
Spanish language article available here. Segundamano.es, often called the 'Spanish Craigslist', has received some flak from Spanish Bitcoiners in the last few months for not allowing payments in Bitcoin. Segundamano.es is the second largest site offering Spanish classified ads, after Milanuncios.com. Both sites receive millions of unique visitors monthly and are an integral part of Spain's economy. For awhile, Spanish Bitcoiners would find their classified ads being deleted at the mere mention of "acepto Bitcoin." Despite the rocky past, Segundamano.es recently told CCN via email that:....
Spanish police have arrested 20 individuals in connection with a pyramid scheme that used a fake digital currency called the unete to attract unwitting investors. The Spanish National Police Corp announced the arrests on 16th July, which took place in Madrid and other parts of the country. Police estimate that the scheme resulted in as much as €50m in losses, ensnaring roughly 50,000 victims worldwide - with 6,000 in Spain alone. Spanish police seized over €5m and approximately $22m from related bank accounts. Two luxury cars and 18 computers were also taken into custody. According to....