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Guide to the taxation of crypto assets in Spain: Updated April 2026

Types of taxes and tax rates for cryptocurrency mining and cryptocurrency investments or NFT transactions. Get up to speed on tax issues regarding crypto assets!
5 min read
  • Tax obligations:If you buy, sell, or make profits with crypto assets, you are subject to declaration.
  • Cryptocurrency transactions: Buying, selling, trading, staking, and airdrops affect your income tax in different ways and have very strict loss compensation rules.
  • Avoid penalties: With the entry into force of the European directive DAC8, the Tax Agency receives automatic data on your movements.
With the entry into force of European regulations, the digital asset ecosystem in Spain has reached an unprecedented level of regulatory maturity. While the MiCA Regulation oversees market participants and protects consumers, taxation remains governed by the Personal Income Tax Law and the Tax Agency's technical interpretations. In this 2026 tax season, filing correctly is simpler thanks to improved clarity in data reporting.

Taxes on crypto assets in Spain in 2026

Currently, with over 4.5 million Spaniards investing in digital assets, the Spanish Tax Agency has definitively integrated these earnings into the tax system. It's crucial to understand that the well-known €1,000 threshold is not a tax exemption for cryptocurrencies. If the sum of all your gross income exceeds this amount, any cryptocurrency transaction that has generated a profit or return must be included in your tax return.The major change in 2026 is the consolidation of Form 721. If you had more than €50,000 in foreign platforms like Binance or Coinbase as of December 31, 2025, the reporting obligation ended on March 31. Failure to file this form, or filing it incompletely, carries serious penalties, especially now that the DAC8 directive allows EU countries to automatically share your balances with the Spanish Tax Agency for data matching in your draft tax return.

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Taxation of crypto assets: Brackets and calculations

Income derived from crypto assets is included in the savings tax base, but is divided into two categories with different rules. On the one hand, net gains from trading (selling crypto for euros or exchanging one crypto asset for another) are considered capital gains from transfers. The tax is applied to the difference between the acquisition value (purchase price plus commissions) and the transfer value (sale price minus commissions). The FIFO (First In, First Out) method is mandatory, meaning that the units purchased earliest are always considered sold first.For the 2026 tax year, the tax rates on savings remain the same, with the adjustment in the upper bracket:
Capital gainTax rate
To 6.000 €19 %
6.000 € - 50.000 €21 %
50.000 € - 200.000 €23 %
200.000 € - 300.000 €27 %
From 300.000 €30 %
If you incur trading losses, you can deduct them entirely from your trading gains. However, if after this offset your overall sales result remains negative, regulations allow you to offset this balance against income from movable capital (such as staking interest), but with a limit: you can only deduct up to 25% of the positive balance of that income. Any excess loss that you were unable to offset this year can be carried forward to reduce your taxes in the next four tax years.

The forgotten one: The taxation of airdrops

Airdrops (receiving free cryptocurrencies for participating in a protocol or as a promotion) are the most critical issue this year. Unlike a sale, the Spanish Tax Agency considers airdrops as a "capital gain that does not derive from a transfer."This has two very important implications:
  1. They are taxed under the general tax base: they don't go into the 19-30% bracket, but are added to your salary. This means they can be taxed at up to 47% in the highest tax brackets.
  2. Immediate valuation: You must declare the market value of the cryptocurrency on the day you received it. If you received an airdrop worth €2,000 and it's now worth €100, you still have to pay taxes on the initial €2,000. That €2,000 value will then become your new "acquisition price" for future sales.

Staking, Mining and NFTs: Differences in criteria

Not everything that happens in your wallet is a "capital gain". The 2026 regulations clearly distinguish other scenarios:
  • Staking: Rewards for asset lock-up are considered income from movable capital (like the interest a bank might pay on your deposits). They are declared at their euro value at the time of receipt and are included in your savings income.
  • Mining: It is treated as an economic activity. It requires registration with the RETA (self-employed) and the IAE (Economic Activities Tax). The miner is taxed on the net profit, and can deduct expenses such as hardware or electricity consumption, provided the latter is properly separated with a dedicated meter.
  • NFTs: The tax treatment varies depending on the individual. For a collector, the sale of an NFT is a normal capital gain. For a creator, it's a professional activity subject to VAT (21%) and the progressive income tax brackets. Furthermore, transfers between individuals are subject to Property Transfer Tax (ITP), which is administered by the Autonomous Communities.

Recommendations for the 2026 campaign

Given the complexity and traceability of digital assets today, omitting information is riskier than ever. We recommend:
  1. Keep thorough records: The tax authorities may ask you for the hash of the transactions to verify your calculations.
  2. Differentiate portfolios: Do not mix staking income with trading sales; each goes in a different box of Form 100.
  3. Use specialized software: There are tools that already integrate Spanish regulations and automatically generate the report necessary for your declaration.
Keeping up to date with cryptocurrency taxation in Spain is not only an obligation, but also a way to protect your assets against surcharges and penalties that, in 2026, are easier to apply than ever thanks to the automatic exchange of information.

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FAQs

    Cryptocurrencies are currencies that exist virtually and are protected by cryptography. Although different coins may have different uses, many coins can be used for trading, storing value, or purchasing certain goods and services. You can learn more about the basics of crypto in our beginner’s guide to cryptocurrency.

    Non-Fungible Tokens (NFTs) are unique digital assets such as images, videos, GIFs, or music. Similar to cryptocurrencies, NFTs are typically certified using blockchain technology. As the name suggests, NFTs aren't consumable or replaceable. They're unique, non-interchangeable assets that come with proof of ownership.

    If you have cryptocurrencies, you should include them on your Spanish tax return in box 389 as “Otras ganancias patrimoniales a integrar en la base imponible del ahorro” (other capital gains to be included as taxable assets).

    If you trade cryptocurrencies in a professional capacity, you’ll be subject to the tax regulations on economic activities. If you exchange virtual currencies and fiat money or swap amounts between various cryptocurrencies, you most likely need to declare your capital gains and losses in your IRPF. Your declaration should be included in your tax return for the fiscal year when the transaction occurred. And once you own a certain amount of cryptocurrencies, even if you don’t sell or trade them, you may have to declare them as financial assets.

    Yes—if you’ve sold virtual currencies in the past fiscal year, you must include these transactions in your tax return.

    Yes, you must report any cryptocurrency transactions that generate gains or losses.

    They are considered capital gains under the savings base. The tax rates range from 19% to 28%, depending on the total amount of capital gains obtained during the fiscal year.

    If you mine cryptocurrencies on a regular basis, it is considered an economic activity. You must register as self-employed and pay taxes on the income obtained.

    The progressive implementation of specific forms is expected (172, 173, 721).

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