Spain’s Sumar party has presented a proposal to Parliament aiming to reform cryptocurrency taxation laws. The proposal seeks to increase tax burdens on cryptocurrencies by including gains from non-financial assets in the general income tax base, with a maximum rate of 47%, compared to the current savings tax base cap of 30%. It also proposes taxing such gains at 30% under corporate income tax. Additionally, the proposal calls for the Spanish National Securities Market Commission (CNMV) to establish a risk rating system for cryptocurrencies, making it mandatory for investment platforms. Finally, the amendment seeks to classify all cryptocurrency assets as seizable, extending the existing regulatory framework beyond just those regulated by the EU’s MiCA framework.