What is known about the taxation of cryptocurrency holders in Spain?

Again with all of you dear and loyal readers, this time to share contextualized information on what is known about the collection of taxes from cryptocurrency holders in Spain, this after the tax authorities in Spain are already implementing all kinds of efforts to collect from cryptocurrency holders.

It is important to highlight that according to an article disclosed in the portal "DiarioBitcoin", the State Agency of Tax Administration of Spain (AEAT) intends to issue more than 300,000 notices to taxpayers for digital coins.

The press release reveals, that the idea is to urge cryptocurrency holders to comply with their tax obligations corresponding to last year's fiscal year, a governmental action made known by multiple notices of an institutional nature.

It is presumed, that governmental bodies to date have issued an estimated 150,000 notices to cryptocurrency holders last year alone, in this sense it has been pointed out that the Spanish authorities have started to take the matter more seriously, and intend to issue 328,000 notices this 2023.

Something that caught my attention, is that according to the socialized information the announced measure is only for taxpayers of assets such as Bitcoin, more however, they made it clear that it is far from being the sole focus of the State Agency of Tax Administration of Spain.

Another fact to mention, is that fines are planned for those who do not comply with their Bitcoin taxes, as it was pointed out that those who do not pay taxes on time may face an additional 26% fine, calculated on the number of unpaid funds, adds that portal.

From my perspective, the measure is another accurate attack on the cryptocurrency market, since even though the traditional economic and financial system is in serious trouble, this type of measures adopted in Spain represent a conflictive situation that aims to discourage investors from buying cryptocurrencies.

I would like to know your opinion about what has been socialized here.

DiarioBitcoin Spain issues over 300,000 notices to taxpayers to pay Bitcoin taxes. Link