SPAIN REQUIRES CITIZENS TO DECLARE CRYPTO ASSETS
Spain's tax administration has announced new regulations requiring its citizens to declare crypto assets held on cryptocurrency platforms abroad. This is considered part of the effort to collect crypto taxes in the land of bullfighting.
The Spanish tax administration has recently made a series of moves to regulate crypto investors and owners. However, this regulation only applies to individuals whose crypto assets exceed 50,000 Euros (equivalent to 55,000 US dollars).
Besides Spain, many other countries are also drawing up a legal framework to collect crypto income tax such as Turkey, Thailand, Italy... Particularly the United States wants to impose taxes on crypto brokers and exchanges. DeFi formula and staking activities.
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