Spain’s Parliament has cleared a major hurdle for its new crypto regulation bill, rejecting a motion by the far-right Vox party and moving closer to aligning the country’s tax framework with the EU’s DAC8 directive.
Spain’s lower house voted 176–32, with 136 abstentions, to dismiss Vox’s attempt to block the legislation. The proposed law will enhance tax transparency, tighten reporting requirements for crypto service providers, and bring Spain into full compliance with European digital asset oversight standards.
Crypto Supervision Moves Closer to EU Alignment
The legislation seeks to transpose the EU’s DAC8 directive into Spanish law, extending reporting obligations for domestic and cross-border crypto-asset platforms. According to the government, these measures will help combat tax fraud, improve international cooperation, and increase transparency in digital asset markets.
Finance Minister María Jesús Montero emphasized that the law is essential for ensuring Spain meets its European fiscal transparency commitments.
“The Tax Agency requires more precise and timely data to oversee crypto activity and to assist compliant taxpayers,” Montero explained.
For the first time, crypto-assets—including those held on payment platforms—will be classified as seizable property under Spanish law. The bill also updates tax collection rules and harmonizes legal time limits in line with Supreme Court rulings, aiming to improve consistency and enforcement.
Vox Party Slams the Bill as Politically Driven
The far-right Vox party criticized the government for “weaponizing” the legislation to advance unrelated political interests. Party spokesperson José María Figaredo accused the ruling coalition of using the crypto oversight bill as a “lifeline” to avoid addressing deeper economic issues, claiming that “ordinary Spaniards pay the price while PSOE allies gain benefits.”
Figaredo argued that the bill manipulates the EU directive for domestic advantage and called for it to be returned to the government for redrafting. Minister Montero countered that Vox’s objections reflect a broader anti-EU stance and a preference for market deregulation, stressing that Spain cannot “afford to lag in regulating such a fast-evolving financial space.”
Rejecting the DAC8 directive, she warned, could expose Spain to EU legal action for non-compliance.
Committee Review to Shape Final Version
The People’s Party (PP) abstained, describing the bill as “technical but harmless,” though it cautioned against political interference during committee review. PP representative Santi Rodríguez Serra warned that if amendments dilute the bill’s core fiscal goals, the party could withdraw support.
Meanwhile, the left-wing Sumar coalition backed the bill but called for tougher regulation—such as risk-based crypto classifications and taxing crypto gains under general income brackets—to ensure “fair and progressive” treatment of digital wealth.
The bill now moves to committee for detailed examination and amendments. If approved, Spain will gain a robust legal foundation for crypto taxation and transparency, reinforcing its commitment to EU-aligned digital governance.
