Crypto Taxes in Spain 2025: Rates, Modelo 721, and Compliance

Spain has become one of the strictest countries in Europe for cryptocurrency reporting. In 2025, Hacienda (the tax authority) has ramped up audits using data from exchanges. This guide explains exactly what you need to declare to avoid heavy fines.

Table of contents

• Capital Gains Tax rates on Crypto
• The mandatory Modelo 721
• How Staking and Airdrops are taxed
• Wealth Tax and Crypto
• Beckham Law and Crypto benefits
• FAQs
• Related guides

Capital Gains Tax rates on Crypto

Crypto is taxed as Savings Income (Base del Ahorro). You pay tax only when you “dispose” of the asset (sell to Euro, or swap Crypto-to-Crypto).

2025 Progressive Rates:

• First €6,000 of profit: 19%
• €6,000 to €50,000: 21%
• €50,000 to €200,000: 23%
• €200,000 to €300,000: 27%
• Over €300,000: 28%

Tip: Use FIFO (First-In, First-Out) to calculate your profits.

The mandatory Modelo 721

If you hold crypto in non-Spanish wallets/exchanges (e.g., Ledger, Binance, Coinbase) worth more than €50,000 as of December 31st, you MUST file Modelo 721.

• Deadline: March 31st.
• Penalties: Fines can start at €20 per undeclared record (minimum €300) but can escalate to fixed percentage fines of the undeclared amount.

How Staking and Airdrops are taxed

This is where many expats get caught out.

• Staking Rewards: Taxed as General Income (up to 47%) at the moment of receipt. It is treated like a salary/yield, not a capital gain.
• Airdrops: Also taxed as General Income at fair market value upon receipt.
• Selling the reward: When you later sell that staked coin, you pay Capital Gains tax on the difference in value since you received it.

Wealth Tax and Crypto

Yes, crypto counts towards your global wealth tax (Impuesto sobre el Patrimonio).

• Threshold: Generally €700,000 worldwide assets (varies by region like Andalusia or Madrid).
• Solidarity Tax: High-net-worth individuals (>€3M) pay a national “Solidarity Tax” on crypto holdings if their region exempts them from Wealth Tax.

Beckham Law and Crypto benefits

If you are on the Beckham Law (Special Expats Regime):

1. You do NOT pay Capital Gains tax on crypto sold outside of Spain.
2. You do NOT need to file Modelo 721.
3. This is a massive advantage for high-volume traders.

FAQs

Is swapping Bitcoin for Ethereum a taxable event? Yes. In Spain, crypto-to-crypto swaps are taxable. You must calculate the Euro gain on the Bitcoin at the moment of the swap.

Does Binance share data with Spanish tax authorities? Yes. Binance is registered with the Bank of Spain and shares user data. Do not hide assets.

Related guides

• The Beckham Law Explained
• Double Taxation US/UK
• Registering as Autónomo

This guide is informational; crypto laws change fast. Contact our crypto-tax specialist.