Spain Prepares Law For Cryptocurrency Statement

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Citizens investing in cryptocurrencies in the country may have to share their knowledge with the state, according to a statement made by Spain government spokesperson Maria Jesus Montero.

According to Reuters, the Spanish government took action to gather information about cryptocurrency users. The government wants to find out which cryptocurrency and how much cryptocurrency the citizens investing in cryptocurrencies have made in the country.

The government has already started drafting a bill to amend the relevant tax law, according to the announcement shared by government spokesperson Maria Jesus Montero. It was announced that the reason for the preparation of this draft is to prevent crimes such as tax evasion and fraud.

Studies started in 2018

The Spanish government has been working on the law on cryptocurrency statement for several years. According to the Bloomberg report, the proposal to follow cryptocurrency investors in the country was first presented two years ago. Parliament members in Spain argued at the time that this proposal was prepared to prevent crimes such as tax evasion.


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