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Spain vs Kazakhstan

Crypto regulation comparison

← Back to map | Spain | Kazakhstan
Spain

Spain

Kazakhstan

Kazakhstan

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.

Kazakhstan has a dual approach to crypto regulation. The Astana International Financial Centre (AIFC) operates as a regulated sandbox where licensed crypto exchanges can operate under AFSA supervision. Outside the AIFC, crypto regulation is more restrictive. Kazakhstan became a major mining hub after China's ban but has since tightened mining regulations.

Tax Type Capital gains
Tax Type Capital gains
Tax Rate 19-28%
Tax Rate 10%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CNMV (Comisión Nacional del Mercado de Valores), Banco de España
Regulator AFSA (Astana Financial Services Authority), NBK (National Bank of Kazakhstan)
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules AIFC (Astana International Financial Centre) has its own framework for digital assets including stablecoins
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
  • AIFC provides a regulatory sandbox for licensed crypto exchanges and businesses
  • Mining is legal and licensed, with a specific tax on electricity consumption for miners
  • Kazakhstan became the world's second-largest Bitcoin mining country after China's 2021 ban
  • 2022 mining crackdown introduced stricter licensing and energy consumption taxes
  • Outside AIFC, domestic crypto payments and exchanges face greater restrictions
Sources
Sources