BTC $68,122.00 (+1.90%)
ETH $1,966.83 (+0.06%)
XRP $1.42 (+0.68%)
BNB $614.06 (+1.18%)
SOL $84.48 (+3.48%)
TRX $0.28 (+1.54%)
DOGE $0.10 (+1.41%)
BCH $555.33 (+1.38%)
ADA $0.28 (+1.82%)
LEO $8.63 (-0.38%)
HYPE $29.47 (+2.82%)
XMR $337.09 (+3.61%)
LINK $8.71 (+1.23%)
CC $0.16 (-1.50%)
XLM $0.16 (+1.33%)
RAIN $0.01 (+1.42%)
ZEC $263.01 (+2.38%)
HBAR $0.10 (+1.48%)
LTC $54.22 (+2.57%)
AVAX $9.33 (+5.49%)

Spain vs Sri Lanka

Crypto regulation comparison

← Back to map | Spain | Sri Lanka
Spain

Spain

Sri Lanka

Sri Lanka

Legal
Restricted

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.

Sri Lanka has no specific cryptocurrency legislation. The CBSL has issued multiple warnings (2018, 2021, 2022, 2023) about crypto risks and has not authorized any entity to operate crypto exchanges, mining, or advisory services. Use of debit/credit cards for crypto is prohibited under the Foreign Exchange Act. The SEC has been discussed as a potential future regulator.

Tax Type Capital gains
Tax Type Unclear
Tax Rate 19-28%
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator CNMV (Comisión Nacional del Mercado de Valores), Banco de España
Regulator Central Bank of Sri Lanka, Securities and Exchange Commission
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules No stablecoin regulation
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
  • CBSL has issued repeated warnings about crypto risks (2018, 2021, 2022, 2023)
  • No entity authorized to operate crypto exchanges, mining, or advisory services
  • Use of debit/credit cards for crypto prohibited under Foreign Exchange Act
  • CBSL requested criminal proceedings against crypto pyramid schemes
  • SEC discussed as potential future regulatory authority for digital assets
Sources
Sources