How crypto tax works in Spain
Spain treats virtual currencies as intangible assets, so sales, crypto-to-crypto swaps, and payments in coins generate savings-base gains measured as transfer value minus acquisition value plus costs.
Gains stack through the progressive savings scale of 19%, 21%, 23%, 27%, and 30%, with partial disposals costed FIFO and staking or lending yields taxed as movable-capital savings income.
Exchanges report balances and operations through Modelos 172 and 173, while individuals declare foreign-held crypto above EUR 50,000 on Modelo 721 and self-held wallets follow current administrative interpretation.
Crypto tax brackets in Spain
| Bracket | Rate | Notes |
|---|---|---|
| Up to EUR 6,000 of savings base | 19% | Entry savings band |
| EUR 6,001 to EUR 50,000 | 21% | Second savings band |
| EUR 50,001 to EUR 200,000 | 23% | Third savings band |
| EUR 200,001 to EUR 300,000 | 27% | Fourth savings band |
| Above EUR 300,000 | 30% | Top savings band |
Tax rates at a glance
- Crypto savings scale
- 19% - 30%
- Up to EUR 6,000
- 19%
- EUR 6,001 to 50,000
- 21%
- EUR 50,001 to 200,000
- 23%
- EUR 200,001 to 300,000
- 27%
- Above EUR 300,000
- 30%
- Staking and lending yields
- 19% - 30%
Who benefits most
These profiles tend to benefit most when the rules match their real residence, payroll and business setup.
Long-term holdersExpatsFreelancers paid in cryptoFoundersCross-border investors
Watch out for
- Crypto-to-crypto permutas are taxable on the euro value given up, so rebalancing without cashing out still creates a savings-base gain measured at market prices.
- The two-month anti-application rule familiar from shares does not map cleanly onto crypto, which makes loss-harvesting around sales a specialist question rather than a routine trick.
- Draft Renta data often omits crypto entirely, so accepting the pre-filled return without adding disposals, yields, and foreign balances leaves the taxpayer exposed.
- Wealth-tax and Modelo 721 valuation both run on year-end market prices, which can make a volatile December holding more expensive than its January cost suggests.
Frequently asked questions
How is crypto taxed in Spain?
Disposal gains sit in the IRPF savings base at progressive rates from 19% to 30%, with FIFO costing on partial sales. Staking and lending yields join the same savings base as movable-capital income.
Is swapping Bitcoin for Ethereum taxable in Spain?
Yes. A crypto-to-crypto permuta is a taxable disposal of the coin given up, valued in euros at the time, with the received coin taking that euro value as its new acquisition cost.
Do I have to report crypto held abroad?
Foreign-exchange crypto balances above EUR 50,000 go on Modelo 721. Domestic exchanges separately feed the tax office through Modelos 172 and 173, enabling cross-checks against the return.