<ul><li>Spain has passed a new law to monitor cryptocurrencies and seize unpaid digital assets. Crypto providers are required to report user data, balances, and transactions to ensure transparency for tax purposes.</li><li>The legislation, aligned with the European Union's DAC8 directive, aims to combat tax evasion and increase supervision of financial assets by January 1, 2026.</li><li>Spain's Tax Agency will have the authority to seize crypto assets for unpaid taxes, extending monitoring to crypto accounts alongside bank accounts.</li><li>The new law is expected to raise €2.4 billion in taxes through increased scrutiny on crypto transactions and holdings, contributing to the European Union's efforts for balanced tax policies.</li></ul>

Spain Passes Law to Control Crypto Assets and Exchange Data

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