The Spanish Sumar Parliamentary Group has put forward three amendments to existing crypto tax laws, which, if approved, would significantly increase the tax burden on profits from cryptocurrencies like Bitcoin and Ethereum.
The main proposals involve moving crypto gains, not considered financial instruments, from the current savings base rates (taxed up to 30%) to the higher general Personal Income Tax (IRPF) rate, which is capped up to 47%.
Economist José Antonio Bravo Mateu suggests these proposals are "clearly against Bitcoin, Ethereum, and other cryptocurrencies," potentially encouraging crypto holders to leave Spain. Lawyer Chris Carrascosa called the seizable assets proposal "unenforceable" and warned it could cause "absolute chaos" in Spain's crypto tax regime.
The group also proposed that the National Securities Market Commission (CNMV) should create a visual "traffic light" risk system for cryptocurrencies. This system would be displayed on investor platforms in Spain and evaluate factors like official registration, supervision, backing, and liquidity.
This demand aligns with previous calls from Spanish lawmakers to mandate such risk warnings to help users "clearly and visually" understand the asset they are buying. Economist José Antonio called these efforts "useless attacks against Bitcoin," which he stresses is "resistant to political attacks."
The proposal comes amid ongoing confusion regarding crypto taxation in Spain. A notable incident in August highlighted these flaws, where a crypto trader was taxed €9 million by the Spanish Tax Agency (AEAT) for a transaction that generated no profit but was still considered a capital gains event. Legal experts have noted that Spanish tax legislation still lacks clear guidelines, leaving investors without fair protection.
November 2025, Cryptoniteuae