Breaking: Spain Introduces New Crypto Asset Declaration Law for 2024

Spain has mandated its residents to declare their cryptocurrency holdings on non-Spanish platforms. This requirement, announced by the Agencia Tributaria, Spain’s Tax Administration Agency, comes into effect from January 1, 2024, with a deadline of March 31, 2024. The announcement, first made in the Boletín Oficial del Estado on July 29, 2023, introduces form 721, dedicated to the declaration of virtual assets held abroad.