The State Tax Administration Agency of the Government of Spain (AEAT) is increasing efforts to charge local holders of crypto assets, intending to dispatch 328,000 warning notices to those who should pay their taxes on crypto for the 2022 fiscal year. The number of notices has increased by 40% in a year, from 150,000 warnings in 2021. Those who fail to pay taxes on time will be subject to an additional 26% fine, calculated from the number of unpaid funds. According to the National Securities Market Commission’s August report, 6.8% of Spain’s population holds crypto assets, with Spain holding the first spot in Europe by the number of crypto ATMs with 231 machines.

(By DAVID ATTLEE)