Spanish Authorities Warn Cryptocurrency Exchanges For Unregistered Services
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....
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The State Agency for Tax Administration of Spain published guidelines to reduce tax evasion for cryptocurrencies, such as bitcoin. The document is part of the general program of the so-called Annual Tax and Customs Control Plan. Spanish Tax Authorities Could Ask Local Exchanges for Customers Data According to the paper, the Spanish Treasury’s entity seeks to apply three measures, as the crypto markets’ hype generates “tax risks.” That’s why the agency expects to gather information as countermeasures against tax-related crimes. The watchdog is looking with the....
The Spanish tax authorities have classified cryptocurrency mining operations as taxable economic activities. Regulations concerning cryptocurrencies minting are gradually falling in place. While a lot of countries are yet to implement them, the Spanish tax authorities have labeled Bitcoin and altcoin mining operations as economic activities. This new classification makes cryptocurrency mining taxable. The latest notice, penned by the National Directorate of Taxes of Spain, requires Bitcoin and altcoin mining companies – as well as individuals – to register themselves. The move, however....
Korea's Financial Intelligence Unit is cracking down on foreign-based cryptocurrency exchanges that are yet to register with relevant authorities in the country. Unregistered cryptocurrency exchanges operating in South Korea could see their services grind to a halt as the Korea Financial Intelligence Unit (FIU) takes action against 16 foreign-based firms.The FIU has notified its investigative authority that 16 virtual asset service providers have been carrying out business without the necessary registrations. Major exchanges, including the likes of KuCoin, Poloniex and Phemex, were listed....
A recent notice from the official taxation authority in Spain sees bitcoin mining fall under the purview of an economic activity, opening cryptocurrency mining to taxation. Bitcoin and cryptocurrency miners in Spain will see taxation of their profits, a recent notice issued by the country’s National Directorate of Tax revealed. First reported Spanish industry publication CriptoNoticias, the new directive would require all cryptocurrency miners to register themselves with Spanish authorities before submitting taxes on mining-earned profits. Citing reasons for the new tax measures, the....
The Spanish treasury has introduced a new series of requirements regarding the reporting and taxation of cryptocurrency holdings in the country. The new rules include the obligation of taxpayers to disclose all of their cryptocurrency holdings to the tax authorities, as well as their value in euros, including details of transactions with the addresses of origin and destination.
Spanish Treasury Proposes New Crypto Rules
Spain is sharpening its taxing apparatus when it comes to cryptocurrency holders. The Spanish Treasury has proposed a new set of rules that will apply to....