Sell Bitcoin in Spain

Selling Bitcoin in Spain follows the Spanish savings income tax framework, with several Spanish-specific reporting forms layered on top.

Mechanics. Send BTC to a regulated platform, complete identity verification under MiCA and Spanish AML rules, agree on the sell rate in euros, choose a payout. SEPA bank transfer is the default for sells through Banxa in Spain; SEPA Instant settles in seconds where supported. Bizum works for some smaller amounts. Cards are available with lower limits.

Spanish income tax. Crypto disposal gains for individuals are taxed under the savings income (rentas del ahorro) framework at progressive rates: 19% up to EUR 6,000 of annual savings income, 21% from EUR 6,000 to EUR 50,000, 23% from EUR 50,000 to EUR 200,000, 27% from EUR 200,000 to EUR 300,000, and 28% above EUR 300,000. The cost base is calculated using FIFO across all units of each coin. Where the activity rises to a trade or business, treatment shifts to general income tax with progressive rates. This is general information, not tax advice. Rules depend on individual circumstances and may change.

Reporting. Spanish residents holding crypto on platforms outside Spain face additional reporting obligations: Modelo 721 (declaracion informativa sobre monedas virtuales situadas en el extranjero) applies to foreign-held crypto above EUR 50,000 in aggregate. Modelo 720 covers other foreign-held assets. Penalties for non-filing can be material.

Regulatory framework. CNMV (Comision Nacional del Mercado de Valores) supervises crypto-asset service providers in Spain; Banco de Espana oversees prudential aspects. MiCA applies EU-wide since December 2024. Banxa Europe IV BV (EUIV) services Spanish customers under MiCA.

Important information for retail customers in the EU. Crypto-assets are not deposits and are not covered by deposit-guarantee schemes. Authorisation of crypto-asset service providers under MiCA does not constitute an investor-compensation scheme and does not protect against price losses. Crypto prices can fall sharply, including to zero in some assets, and you can lose the full amount invested. Settlement of any sell order depends on identity verification, payment processing, and blockchain confirmation. The tax information on this page is general only and is not tax advice; rules depend on individual circumstances and may change. The Dutch financial markets authority (AFM) publishes consumer-facing information on crypto-asset risks for EU retail clients.