DAC8: Spain ends crypto anonymity as tax reporting starts in 2026
From January 2026, the EU's DAC8 directive forces exchanges to report user identities and transactions to Spain's tax agency. What changes and how crypto is taxed.
2026 marks the de facto end of crypto anonymity in Spain. With the EU’s DAC8 directive taking effect on 1 January 2026, exchanges and crypto-asset service providers (CASPs) are now required to collect and automatically report the identity and transactions of their clients to Spain’s tax agency, the AEAT.
What DAC8 requires
DAC8 (the Directive on Administrative Cooperation) obliges CASPs to gather and share their users’ data with national tax authorities. According to CriptoNoticias, the report starts with client identification — name, address, country of tax residence and tax identification number — and continues with transaction detail:
- Crypto-to-fiat exchanges
- Crypto-to-crypto operations
- Transfers between wallets
- Stablecoin movements
- Certain transactions made with crypto-linked cards
Spain is transposing the directive through a royal decree driven by the Ministry of Finance. Providers must file their first report by 31 January 2027, and the AEAT will pass the data to clients’ countries of residence within the following two months.
Form 721 still applies
DAC8 does not replace Modelo 721, the informational return that Spanish tax residents must file when their crypto held abroad jointly exceeds €50,000 as of 31 December.
- Not a tax: it is an informational return and triggers no payment by itself.
- Window: 1 January to 31 March of the following year.
- Penalties: up to €5,000 per undeclared data point for non-compliance.
How gains are taxed
Separate from the reporting, crypto gains are taxed under Spain’s personal income tax (IRPF) as savings income, at rates ranging from 19% to 30% by bracket, with no exempt minimum. Simply buying and holding crypto, or moving it between your own wallets, does not by itself create a taxable event — tax arises when you sell, swap or spend at a gain.
The bottom line
With DAC8 in force since January 2026 and Form 721 already established, Spain’s tax agency gains an almost complete view of residents’ crypto activity. The practical message is plain: traceability is now the norm, and correctly declaring operations and gains is no longer optional.
News summary based on the sources cited above. For general information only; not tax or investment advice. Consult a qualified adviser about your specific situation.