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'Exponential' Rise in Crypto Tax Inquiries in Spain as Monitoring Intensifies


Exponential Rise in Crypto Tax Inquiries in Spain as Monitoring Intensifies
The accounting giant
PwC says it has seen an “exponential” increase in recent months in inquiries about tax declarations from crypto holders in Spain – where new crypto regulations have come into force.
Spain’s Treasury department has already sent out thousands of warning letters to citizens it suspects of trading in crypto, warning them that if they fail to declare their earnings correctly, they could face fines. And a controversial new law has also come into force, obliging owners of crypto in platforms located overseas to declare tokens.
Per El Pais, this has all led to widespread worry among crypto traders in the country, particularly exacerbated by the fact that earlier this month, the nation’s passed a sweeping new anti-fraud law that will have a direct impact on crypto traders. ....

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