Parliamentary group Sumar has submitted measures to reclassify gains from crypto transactions as ordinary income, applying rates up to 47%.

Proposal details

The draft would change the tax treatment of private crypto profits, replacing the current savings-income scale with ordinary income brackets and a higher top rate of 47%.

For institutional investors, the proposal sets a distinct rate of 30%, and grants regulators authority to assess the risk profile of crypto platforms and disclose those assessments to users.

Current regime and comparison

Under existing rules, profits from crypto transactions are treated as savings income and taxed between 21% and 30%, depending on the amount realized, according to the bill text.

Reactions and alternatives

Experts quoted in public commentary criticized the initiative, warning it may prompt capital outflows and reduce domestic crypto activity if adopted in its current form.

The legislative debate also includes an alternative idea to introduce a preferential tax regime specifically for bitcoin, which remains under consideration by lawmakers.

Next steps

The proposal is now under parliamentary review and may be amended during the legislative process; its adoption would alter tax liabilities and reporting obligations for crypto holders in Spain.