BTC $64,025.00 (-0.79%)
ETH $1,852.65 (-0.60%)
XRP $1.35 (-0.36%)
BNB $584.95 (-1.89%)
SOL $78.35 (-0.08%)
TRX $0.28 (+0.60%)
DOGE $0.09 (-1.46%)
BCH $483.09 (-3.48%)
ADA $0.26 (-1.28%)
LEO $8.45 (+4.43%)
HYPE $27.19 (+2.63%)
CC $0.16 (-0.27%)
XMR $326.42 (+5.72%)
LINK $8.19 (-1.40%)
XLM $0.15 (-1.03%)
RAIN $0.01 (-0.13%)
HBAR $0.10 (+0.64%)
ZEC $244.69 (+2.90%)
LTC $51.23 (-0.92%)
AVAX $8.30 (-0.97%)

Spain vs El Salvador

Crypto regulation comparison

← Back to map | Spain | El Salvador
Spain

Spain

El Salvador

El Salvador

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.

El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.

Tax Type Capital gains
Tax Type No tax
Tax Rate 19-28%
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CNMV (Comisión Nacional del Mercado de Valores), Banco de España
Regulator BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules USD is the primary currency; Bitcoin-specific legislation in place
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
  • First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
  • Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
  • January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
  • No capital gains tax on Bitcoin transactions for individuals
  • Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds
Sources
Sources