Spain Proposes Major Tax Shift for Cryptocurrency Profits

Spain’s Sumar parliamentary group has proposed a significant change to cryptocurrency tax rules, moving profits from the savings tax bracket to the general income tax base. The proposal would increase the top rate to 47% and targets three major tax laws: General Tax Law, Income Tax Law, and Inheritance and Gift Tax Law. This shift would apply a flat 30% corporate rate for business crypto gains while classifying all digital assets as seizable under specific conditions.