Spain’s Tax Authorities Are Seeking Details of Cryptocurrency Investors from 60 Companies: Report

Spain’s Tax Authorities Are Seeking Details of Cryptocurrency Investors from 60 Companies: Report

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April 6, 2018 by Bitzamp
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Spanish Tax Authority has requested the names and transaction data of cryptocurrency investors from over 60 companies, according to a report. According to an official from the Agencia Estatal de Administración Tributaria (AEAT), the authority is launching the country’s biggest dragnet yet to look into tax evasion and money laundering via cryptocurrencies, spanish news media
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Spanish Tax Authority has requested the names and transaction data of cryptocurrency investors from over 60 companies, according to a report.

According to an official from the Agencia Estatal de Administración Tributaria (AEAT), the authority is launching the country’s biggest dragnet yet to look into tax evasion and money laundering via cryptocurrencies, spanish news media El Confidencial reported.

The AEAT has reportedly contacted 60 companies inclunding 16 banks and several cryptocurrency startups that process online cryptocurrency payments. The agency is seeking information about cryptocurrency transactions including the identities of their crypto clients, bank details, payment card information and transactional amounts.

The news come amid a growing interest in digital currencies among global tax agenciess, following an increasing adoption of cryptocurrencies.

Meanwhile, the Spanish government is reportedly preparing fiscal incentives to attract new crypto startups to the country, which may also involve the legalization of Initial Coin Offerings (ICO) in a regulated manner.

 


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