Spain will implement comprehensive cryptocurrency regulations by 2026
According to ChainCatcher, Spain plans to fully implement two significant regulatory frameworks for cryptocurrencies by 2026: the European Union Regulation on Markets in Crypto-Assets (MiCA) and the Directive on Administrative Cooperation (DAC8). MiCA will come into effect on July 1, 2026, requiring all crypto service providers to obtain full authorization to continue operations. Meanwhile, DAC8 will take effect on January 1, 2026, requiring exchanges to report user transactions, balances, and information on the movement of funds to EU tax authorities. Tax experts warn that the Spanish tax agency will have the authority to directly freeze or liquidate user assets on exchanges to settle tax debts, advising users to consider self-custody solutions, as self-custody wallets are not subject to these reporting requirements.$BNB
