{
 "jurisdiction_id": "ES",
 "jurisdiction": "Spain",
 "url": "https://cryptoassets.gi/jurisdictions/spain/",
 "generator": "render_jid v13.3.0",
 "date_modified": "2026-08-17",
 "schema_version": "crypto-v2.0.0",
 "counts": {
  "modules": 8,
  "sourced_findings": 32,
  "source_register": 50
 },
 "modules": [
  {
   "code": "crypto_licensing",
   "name": "Crypto Licensing",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/spain/#crypto-licensing-crypto-licensing",
   "standing_position": "Spain's MiCA CASP and ART/EMT licensing architecture is fully designated and now fully in force. CNMV holds competence for Titles II, V and VI (CASP authorisation, market conduct); Banco de Espana holds competence for Titles III and IV (ART/EMT issuer authorisation). Both the EU-wide (1 July 2026) and Spain's own extended national (18-month, to 30 June 2026) transitional/grandfathering windows have now closed, moving unauthorised firms into open non-compliance; CNMV has stated no extensions will be granted and is coordinating an orderly wind-down of unauthorised operators. A Challenger-fold correction this cycle resolved a prior stale/contradictory hedge on the precise length of Spain's national transitional window.",
   "findings": [
    {
     "finding": "MiCA Titles II, V and VI (CASP authorisation and market conduct) in Spain",
     "instrument_type": "regulator",
     "source": "CNMV",
     "source_url": "https://www.esma.europa.eu/sites/default/files/2024-12/List_of_Competent_Authorities_notified_to_ESMA_under_MiCA.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "MiCA Titles III and IV (ART/EMT issuer authorisation and supervision) in Spain",
     "instrument_type": "regulator",
     "source": "Banco de Espana",
     "source_url": "https://www.esma.europa.eu/sites/default/files/2024-12/List_of_Competent_Authorities_notified_to_ESMA_under_MiCA.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "1 July 2026 EU-wide; unauthorised crypto-asset service providers are now in breach of EU law",
     "instrument_type": "regulation",
     "source": "MiCA transitional (grandfathering) regime",
     "source_url": "https://www.esma.europa.eu/sites/default/files/2026-04/ESMA75-113276571-1679_Statement_on_the_end_of_transitional_periods_under_MiCA.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "crypto firms failing to secure MiCA authorisation ahead of the transitional deadline; CNMV is coordinating orderly wind-down of unauthorised firms",
     "instrument_type": "regulator",
     "source": "CNMV",
     "source_url": "https://www.theblock.co/post/406362/spain-says-no-exceptions-extensions-binance-other-crypto-firms-mica-deadline",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "Spain initially communicated a shortened 12-month national MiCA grandfathering window (ending 30 December 2025), but per ESMA's updated list of Member State grandfathering periods (published 1 December 2025), Spain extended this to the full 18-month window permitted under MiCA Article 143(3), aligning with the EU-wide deadline of 1 July 2026 (extension running to 30 June 2026).",
     "instrument_type": "regulation",
     "source": "Spain (national MiCA transposition)",
     "source_url": "https://www.fintechanddigitalassets.com/2025/12/mica-cliff-edge-risk-in-spain-mitigated-as-esma-updates-list-of-grandfathering-periods/",
     "source_tier": "3",
     "retrieved_at": "2025-12-02"
    }
   ]
  },
  {
   "code": "token_classification",
   "name": "Token Classification",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/spain/#token-classification-token-classification",
   "standing_position": "MiCA's Article 2-3 taxonomy (EMTs, ARTs, utility tokens under Title II, NFT exclusion with large-series exception, and MiFID II security-token exclusion) is settled EU law directly applicable in Spain, with ESMA/EBA guidance operationalising boundary cases.",
   "findings": [
    {
     "finding": "crypto-assets referencing a single official currency; issuers require credit-institution or e-money-institution authorisation, supervised by Banco de Espana",
     "instrument_type": "regulation",
     "source": "E-money tokens (EMTs)",
     "source_url": "https://eur-lex.europa.eu/ES/legal-content/summary/european-crypto-assets-regulation-mica.html",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "Banco de Espana authorisation before public offer or admission to trading in Spain",
     "instrument_type": "regulation",
     "source": "Asset-referenced tokens (ARTs)",
     "source_url": "https://eur-lex.europa.eu/ES/legal-content/summary/european-crypto-assets-regulation-mica.html",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "MiCA Title II by CNMV, requiring a compliant white paper and CNMV notification rather than full prudential authorisation",
     "instrument_type": "regulation",
     "source": "Crypto-assets other than ARTs/EMTs (utility tokens)",
     "source_url": "https://eur-lex.europa.eu/ES/legal-content/summary/european-crypto-assets-regulation-mica.html",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "MiCA scope",
     "instrument_type": "regulation",
     "source": "Non-fungible tokens (NFTs)",
     "source_url": "https://www.eba.europa.eu/assets/Updated%20Joint%20ESAs%20revised%20warning%20on%20crypto-assets/Updated%20Joint%20ESAs%20revised%20warning%20on%20crypto-assets_ES.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "existing Spanish securities law supervised by CNMV, per ESMA classification guidelines",
     "instrument_type": "regulation",
     "source": "Crypto-assets qualifying as MiFID II financial instruments (security tokens)",
     "source_url": "https://www.esma.europa.eu/sites/default/files/2025-03/ESMA35-1872330276-2031_Guidelines_on_suitability_and_periodic_statement_MiCA_ES.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "on_chain_activity_regime",
   "name": "On-Chain Activity Regime",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/spain/#on-chain-activity-regime-on-chain-activity-regime",
   "standing_position": "No Spain-specific rules govern staking, DeFi lending, mining, validator operation or DEX activity; these are captured only indirectly via the general MiCA CASP perimeter, mirroring an EU-wide supervisory gap flagged by EBA/ESMA rather than reflecting a Spain-specific policy choice.",
   "findings": [
    {
     "finding": "crypto lending, borrowing and staking activity, a gap also applicable in Spain absent specific national staking rules",
     "instrument_type": "regulator",
     "source": "EU supervisory authorities (EBA/ESMA)",
     "source_url": "https://www.eba.europa.eu/regulation-and-policy/asset-referenced-and-e-money-tokens-mica",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "decentralised finance activity (ICT, AML/ML risk, consumer protection) not addressed by a Spain-specific DeFi regime",
     "instrument_type": "guidance",
     "source": "EBA/ESMA joint DeFi factsheet",
     "source_url": "https://www.eba.europa.eu/regulation-and-policy/asset-referenced-and-e-money-tokens-mica",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "tokenization, mining, node operation, validator services, or DEX operation distinct from the general MiCA CASP framework",
     "instrument_type": "jurisdiction",
     "source": "Spain",
     "source_url": "https://eur-lex.europa.eu/ES/legal-content/summary/european-crypto-assets-regulation-mica.html",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "stablecoin_regime",
   "name": "Stablecoin Regime",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/spain/#stablecoin-regime-stablecoin-regime",
   "standing_position": "ART/EMT issuance, reserve, redemption and disclosure rules have been in force since 30 June 2024, actively supervised by Banco de Espana, with an enhanced-obligation tier applicable to tokens designated 'significant' under the EU stablecoin framework.",
   "findings": [
    {
     "finding": "offering EMTs to the public or seeking admission to trading in Spain, per MiCA Title IV enforced by Banco de Espana",
     "instrument_type": "regulation",
     "source": "EMT issuers",
     "source_url": "https://eur-lex.europa.eu/ES/legal-content/summary/european-crypto-assets-regulation-mica.html",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "received funds in safe, low-risk assets denominated in the same currency, deposited in an account segregated from the issuer's own funds at a credit institution",
     "instrument_type": "regulation",
     "source": "ART/EMT issuers",
     "source_url": "https://eur-lex.europa.eu/ES/legal-content/summary/european-crypto-assets-regulation-mica.html",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "EMTs/ARTs from the issuer at any time at nominal or market value of the referenced assets",
     "instrument_type": "regulation",
     "source": "Token holders (ART/EMT)",
     "source_url": "https://eur-lex.europa.eu/ES/legal-content/summary/european-crypto-assets-regulation-mica.html",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "a MiCA-compliant crypto-asset white paper and marketing communications, and are liable for damages caused by incorrect white paper information",
     "instrument_type": "regulation",
     "source": "ART/EMT issuers",
     "source_url": "https://eur-lex.europa.eu/ES/legal-content/summary/european-crypto-assets-regulation-mica.html",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "enhanced prudential requirements including additional own-funds and interoperability obligations, applicable to any such token issued or circulating in Spain",
     "instrument_type": "regulation",
     "source": "ARTs/EMTs designated as 'significant' under the EU stablecoin regime",
     "source_url": "https://www.bis.org/fsi/publ/insights49.pdf",
     "source_tier": "3",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "consumer_protection",
   "name": "Consumer Protection",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/spain/#consumer-protection-consumer-protection",
   "standing_position": "MiCA marketing, custody, complaint-handling and suitability protections are in force and actively enforced by CNMV, supplemented by a joint ESMA/EBA/EIOPA consumer warning noting that these protections do not extend to unauthorised firms or all crypto-assets.",
   "findings": [
    {
     "finding": "published white papers and marketing communications whenever a significant new factor or material inaccuracy capable of affecting investors' assessment arises",
     "instrument_type": "regulation",
     "source": "Offerors and CASPs",
     "source_url": "https://eur-lex.europa.eu/ES/legal-content/summary/european-crypto-assets-regulation-mica.html",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "that MiCA protections do not cover all crypto-assets or unauthorised firms, and that crypto markets remain volatile and prone to fraud and cyberattacks",
     "instrument_type": "guidance",
     "source": "ESMA, EBA and EIOPA (Joint ESAs)",
     "source_url": "https://www.eba.europa.eu/assets/Updated%20Joint%20ESAs%20revised%20warning%20on%20crypto-assets/Updated%20Joint%20ESAs%20revised%20warning%20on%20crypto-assets_ES.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "outsourcing or delegating custody services to entities that are not themselves authorised as CASPs",
     "instrument_type": "regulation",
     "source": "MiCA",
     "source_url": "https://www.esma.europa.eu/sites/default/files/2026-06/ESMA75-113276571-1710_Public_Statement_MiCA_transitional_period_ends.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "transparent complaint-handling procedures and access to comprehensive product information, a protection that does not extend to non-MiCA-compliant firms",
     "instrument_type": "regulation",
     "source": "MiCA-authorised firms",
     "source_url": "https://www.eba.europa.eu/assets/Updated%20Joint%20ESAs%20revised%20warning%20on%20crypto-assets/Updated%20Joint%20ESAs%20revised%20warning%20on%20crypto-assets_ES.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "MiCA Article 81 suitability requirements, including obtaining, verifying and periodically updating client information per ESMA's 2025 suitability guidelines",
     "instrument_type": "regulation",
     "source": "CASPs providing advice or portfolio management",
     "source_url": "https://www.esma.europa.eu/sites/default/files/2025-03/ESMA35-1872330276-2031_Guidelines_on_suitability_and_periodic_statement_MiCA_ES.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "tax_treatment",
   "name": "Tax Treatment",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/spain/#tax-treatment-tax-treatment",
   "standing_position": "DAC8 cross-border reporting and general IRPF capital-gains treatment are reasonably well evidenced; Spain-specific instrument-level detail (the Modelo 721 reporting instrument, VAT/IVA treatment, withholding rules) still requires primary AEAT confirmation despite Challenger-supplied secondary detail this cycle.",
   "findings": [
    {
     "finding": "an annual informational return declaring certain assets held abroad (Modelo 720); this foreign-asset disclosure regime is understood to have been extended to cover virtual currencies held with foreign custodians, though the precise crypto-specific form/instrument was not independently confirmed against a primary source in this pass.",
     "instrument_type": "regulation",
     "source": "Spanish tax residents",
     "source_url": "https://eur-lex.europa.eu/legal-content/ES/TXT/HTML/?uri=CELEX:62019CC0788",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "crypto-asset service providers across Member States including Spain to collect and report detailed user and transaction data to national tax authorities, with a compliance grace period until 1 July 2026",
     "instrument_type": "regulation",
     "source": "EU Directive (DAC8) crypto-asset reporting obligation",
     "source_url": "https://www.coindesk.com/policy/2025/12/24/eu-s-crypto-tax-reporting-starts-in-january-with-threat-of-asset-seizure",
     "source_tier": "4",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "capital gains within the general scope of Spain's Personal Income Tax Law (Ley 35/2006, IRPF)",
     "instrument_type": "regulation",
     "source": "Gains realised by Spanish tax-resident individuals on disposal of crypto-assets",
     "source_url": "https://eur-lex.europa.eu/legal-content/ES/TXT/HTML/?uri=CELEX:62019CC0788",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "a primary Spanish or EU source in this research pass",
     "instrument_type": "none",
     "source": "Spain-specific VAT (IVA) treatment of crypto-asset exchange services",
     "source_url": "https://sede.agenciatributaria.gob.es/",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "a primary source in this research pass",
     "instrument_type": "none",
     "source": "Spain-specific withholding-tax rules applicable to crypto-asset transactions",
     "source_url": "https://sede.agenciatributaria.gob.es/",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "cross_border_transfer",
   "name": "Cross-Border Transfer",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/spain/#cross-border-transfer-cross-border-transfer",
   "standing_position": "The EU travel rule is in force and directly applicable in Spain; residual gaps (distinct national reporting thresholds, capital controls) reflect absence of additional national measures rather than regulatory uncertainty. A related sanctions-nexus finding is carried as adjacent context routed to financial-integrity.",
   "findings": [
    {
     "finding": "crypto-asset transfers, applying directly in Spain and enforced per EBA guidelines from the date of MiCA's application",
     "instrument_type": "regulation",
     "source": "Regulation (EU) 2023/1113 ('travel rule')",
     "source_url": "https://www.eba.europa.eu/sites/default/files/2024-07/6de6e9b9-0ed9-49cd-985d-c0834b5b4356/Travel%20Rule%20Guidelines.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "the EU Regulation (EU) 2023/1113 framework in this research pass",
     "instrument_type": "none",
     "source": "Spain-specific de minimis reporting threshold for crypto-asset cross-border transfers",
     "source_url": "https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX%3A32023R1113",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "cross-border crypto-asset transfers beyond the generally applicable EU AML/travel-rule and sanctions-screening framework",
     "instrument_type": "jurisdiction",
     "source": "Spain",
     "source_url": "https://www.bde.es/",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    },
    {
     "finding": "crypto-asset transfers in the same manner as other financial transfers; no crypto-specific derogations from general EU sanctions law were identified",
     "instrument_type": "regulation",
     "source": "EU financial sanctions regimes, as implemented domestically in Spain",
     "source_url": "https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX%3A32023R1113",
     "source_tier": "1",
     "retrieved_at": "2026-08-03"
    }
   ]
  },
  {
   "code": "aml_cft_regime",
   "name": "AML/CFT Regime",
   "confidence": null,
   "moved_this_cycle": false,
   "url": "https://cryptoassets.gi/jurisdictions/spain/#aml-cft-regime-aml-cft-regime",
   "standing_position": "This module is out-of-scope by design for the crypto monitor: AML/CFT supervision in Spain (SEPBLAC, Law 10/2010) is subscribed to financial-integrity's aml_cft_regime coverage per fleet architecture pending its consolidation there. Crypto carries only the subscribed surface; no independent claims were researched or composed for this module this cycle.",
   "findings": []
  }
 ]
}