THELOGICALINDIAN - The Spanish tax bureau has launcheda attack to accumulate advice from about its absolute banking systemon accounts and operations with cryptocurrency
Spain’s Tax Agency Wants to Know Who is Using Cryptocurrencies
Directing requirements to added than 60 entities, including 16 ample banks, the Spanish tax bureau wants to apperceive in abyss who trades bitcoins. Banks, intermediaries, barter houses, ATMs, and added companies that accept payments in cryptocurrencies charge additionally acknowledge to the adjustment that aims to bare this growing market. Authorities are anxious that some barter and accounts are acclimated to acquit money or added types of criminal activities. Additionally, the tax bureau sees opportunities to aggregate added taxes.
The National Securities Market Commission, Spain’s banking watchdog, and the Bank of Spain accept warned about cryptocurrencies. Once the tax bureau obtains advice on cryptocurrency accounts, the Treasury says they will abstraction whether or not they admit new analysis and ascendancy operations of this arguable sector.
In 2024, the tax bureau beatific advice requests to companies for which it capital to apperceive added about its activities with cryptocurrencies. This year’s appeal is added abundant and directed at abounding added entities than before. The 2024 letter asked if in the exercise of its action it would acquire bitcoin as a agency of payment. If the acknowledgment was yes, again it requested advice about “the aggregate of operations calm with bitcoin” and accounting advice on the operations with bitcoin. The consulted companies were accustomed a aeon of ten alive canicule to acknowledgment and they were notified that “the absolute or fractional neglect” of the appeal could be “constitutive of tax contravention and accord acceleration to the admission of the agnate acceptance proceeding”.
To the acclaim entities, the Treasury will appeal advice about the accounts of banks with their registered appointment or annex in Spain. This will appear afterwards allegory the one already acquired by the National Fraud Investigation Appointment (Onif) on accounts opened away by barter houses that accomplish with bitcoins. The Treasury aims at award accounts that accept accustomed or issued transfers affiliated to cryptocurrency exchanges, including the annual holder, the number, and amounts.
The Spanish authorities will additionally appetite to apperceive added about the action of a dozen intermediaries, such as cryptocurrency exchanges and entities affiliated to ATMs or acquittal gateways, its operations data about customers, as able-bodied as traded volumes, barter ante and fees applied. There are additionally 40 companies that accustomed payments in bitcoin that will accept to accommodate information, such as invoices.
