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Spain vs India

Crypto regulation comparison

← Back to map | Spain | India
Spain

Spain

India

India

Legal
Legal

Cryptocurrency is legal and increasingly regulated in Spain. Crypto capital gains are taxed at progressive savings tax rates (19-28%). Spain was an early mover in requiring crypto advertising to be pre-approved by the CNMV. Since 2024, Spanish taxpayers must report overseas crypto holdings via the Modelo 721 form. Banco de España registers VASPs for AML compliance. MiCA applies from December 2024.

India legalized crypto taxation in the 2022 Union Budget, imposing a flat 30% tax on all crypto gains with no deductions for losses. A 1% TDS (Tax Deducted at Source) on crypto transactions above thresholds also applies. The Supreme Court struck down the RBI's 2018 banking ban in 2020, and India is now developing a broader regulatory framework.

Tax Type Capital gains
Tax Type Capital gains
Tax Rate 19-28%
Tax Rate 30%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CNMV (Comisión Nacional del Mercado de Valores), Banco de España
Regulator CBDT, FIU-IND, SEBI, RBI
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules No specific stablecoin regulation; RBI exploring digital rupee CBDC
Key Points
  • Crypto gains taxed at savings rates: 19% (first €6,000), 21%, 23%, 27%, 28% (above €300,000)
  • Modelo 721: mandatory declaration of overseas crypto holdings exceeding €50,000 (from 2024)
  • CNMV requires pre-approval of crypto advertising targeting Spanish residents
  • Banco de España maintains VASP registry for AML compliance
  • Spain has a large crypto-using population; significant expat and digital nomad community
Key Points
  • Flat 30% tax on all crypto gains with no loss offset against other income (effective April 2022)
  • 1% TDS on crypto transactions above ₹10,000 (₹50,000 for specified persons)
  • Supreme Court struck down RBI's 2018 banking circular banning banks from serving crypto firms
  • FIU-IND requires VASPs to register and comply with PMLA (Prevention of Money Laundering Act)
  • India blocked non-compliant offshore exchanges (Binance, others) in 2024, later some re-registered
Sources
Sources