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TechFlow reports that Spain's Ministry of Finance is proposing a tax reform to allow the seizure of cryptocurrency assets when settling tax debts. The Spanish government has issued a royal decree designating electronic money entities as tax agents, meaning these entities must carry out asset seizures on customers' digital currencies and crypto assets upon government request—previously a responsibility limited to traditional banks and credit institutions.
Spain's Ministry of Finance is proposing a tax reform to allow the seizure of cryptocurrency assets when settling tax debts. The Spanish government has enacted a royal decree designating electronic money entities as tax agents, meaning these entities must, upon government request, carry out asset seizures on customers' digital currencies and crypto assets. Previously, this obligation applied only to traditional banks and credit institutions.
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