Spain to Fully Enact EU MiCA Regulations Starting July 2026

Spain is preparing to implement crucial regulations concerning cryptocurrency in 2026, most notably the full rollout of the Markets in Crypto-Assets Regulation (MiCA).

Key Takeaways

Spain plans to fully implement MiCA regulations by July 2026.
The DAC8 directive will require crypto exchanges to report user information starting January 1, 2026.
MiCA will categorize cryptocurrencies into utility tokens, security tokens, and stablecoins.
All EU member states must adopt these regulations by the July 2026 deadline.
The Spanish tax agency will gain extensive information on crypto assets, affecting holders in Spain.

Spain MiCA

As part of its plan, Spain will enforce the DAC8 directive from January 1, 2026, mandating that crypto exchanges report user data. The MiCA regulations, which signify a substantial change in the European crypto regulatory environment, are set to be fully operative in Spain by mid-2026, aligning with the broader European Union requirements.

MiCA Regulations: A New Era for Cryptocurrency in Spain

The Markets in Crypto-Assets Regulation (MiCA) represents a significant regulatory advancement in Europe’s cryptocurrency framework, officially enacted in December 2024. By mid-2026, Spain is expected to apply these regulations in full, establishing standardized rules governing the issuance and marketing of cryptocurrencies. Under these regulations, various types of tokens will be classified, including utility tokens, security tokens, and stablecoins.

Spain initially announced its plans to adopt MiCA in 2023, with a deadline set for all 27 EU member nations to comply by July 2026. In addition to MiCA, Spain's central bank, Banco de España, has been informing the public about the potential advantages of a digital Euro, anticipating the European introduction of a Central Bank Digital Currency (CBDC).

Implementing the DAC8 Crypto Directive in 2026

Starting January 1, 2026, Spain will fully enforce the DAC8 directive, aimed at streamlining the automatic exchange of information regarding crypto assets among EU countries. Crypto exchanges and service providers will be required to report user transactions, balances, and movements to EU tax authorities.

Expert José Antonio Bravo Mateu noted, “From 2027 onwards, we will have information on all transactions carried out during 2026,” emphasizing that the data will provide a near-complete overview of transactions. He also warned that if individuals have crypto assets or euros in exchanges based in Spain, these could be seized without the need for complex procedures, effective from January 1, 2026.

Tightening the Reins on Tax Compliance

According to risk and regulatory consultancy Cero Uno, the DAC8 directive will significantly enhance the monitoring measures available to the Spanish Tax Agency. If cryptocurrencies are stored with Spanish-authorized entities like Binance Spain SL, these entities must report directly to the tax agency using mandatory Forms 172 and 173, detailing balances and transactions for the current year.

In recent developments, the Spanish Sumar Parliamentary Group proposed amendments to crypto tax legislation, suggesting that profits from cryptocurrency should be taxed at a rate of 30% under the Corporate Income Tax.

As the landscape for cryptocurrency continues to evolve, these upcoming regulations signify a move towards greater accountability and transparency in the crypto market in Spain.