Spain introduces law to acquire crypto exchanges’ data, seize digital assets

The Spanish government is preparing to implement a law by January 2026, enhancing oversight on cryptocurrency assets and mandating service providers to report user holdings and transactions.

The law will grant the Spanish tax agency authority to seize digital assets from users with tax debts, aligning with the European DAC8 directive to improve compliance.

Estimated revenues from DAC8 implementation in Europe are expected to exceed 2.4 billion euros, broadening the agency’s powers from traditional bank assets to include cryptocurrencies.