At the moment, each country of the EU can set up various regulations on cryptocurrency businesses and Spain has specific regulations addressing to this field. Investors who want to open a company in Spain should know that specific articles of the Spanish Civil Code protect the operations of such businesses; our team of specialists in company formation in Spain can offer consultancy services on the available legislation, and can help you obtain a crypto exchange license in Spain.
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Companies performing cryptocurrency mining activities are taxed under new rules of law imposed by the Spanish government. Cryptocurrency mining refers to the procedure through which transactions carried out through virtual currencies are verified. Those interested in company registration in Spain in this field should know that the National Directorate of Tax announced that cryptocurrency mining activities will be taxed as such operations are included in the category of economic activities.
In this sense, cryptocurrency miners will be required to register with the Spanish authorities for taxation purposes and this should be completed prior to submitting the taxes associated with operations deriving from cryptocurrency mining.
The legislation is not yet applicable in Spain, but it may be enforced to prevent a set of associated criminal activities that are usually encountered in this field, such as:
Spain has come to the attention of cryptocurrency users as well as those who want to open a cryptocurrency company in Spain with some regulations in this sector. Among them, the following are important:
If you want to open a cryptocurrency company in Spain, it is essential to first obtain a crypto exchange license in Spain. Let’s review some of the formalities related to crypto exchange license in Spain:
Once you prepare these documents plus standard ones, you can apply for a crypto exchange license in Spain. Our local agents are at your disposal with specialized help if you want to open a cryptocurrency company in Spain.
Royal Decree 7/2021, with the transfer of EEU directives, presents the regulation on money laundering as well as the prevention of this type of fraud. As virtual currency is part of the Spanish financial system, entrepreneurs who want to open a cryptocurrency company in Spain must comply with the requirements and regulations of this set of laws.
By definition, virtual currency is any digital value that is not issued by a central bank but is accepted as currency, storage, or transfer. Those who offer this type of service must ensure that it offers protection and security to its customers and that they take anti-money laundering measures in Spain.
If you want more details on this topic, we invite you to talk to our local agents. We can help you obtain a crypto exchange license in Spain.
As for the Spanish economy, the figures below highlight its direction:
Businessmen are invited to contact our team of consultants in company formation in Spain for assistance on the registration steps imposed under the local legislation. We can help you open a cryptocurrency company in Spain.