Spain Pushes for Supposed Crypto Transparency with New Data & Seizure Powers

Spain is set to roll out new legislation to tighten the leash on crypto tax reporting. Under the new directive, Spanish authorities will have the power to exchange data on digital assets held on international exchanges and seize cryptos from tax defaulters. While proponents highlight the benefits of increased financial accountability, these new measures, which include comprehensive data reporting requirements for crypto exchanges and expanded asset seizure powers for tax authorities, point to the evolving relationship between digital assets and state control. Once enforced, Virtual Asset Service Providers (VASPs) will be mandated to report extensive transaction data and user holdings directly to the Spanish tax agency source: https://medium.com/pivx/spain-pushes-for-supposed-crypto-transparency-with-new-data-seizure-powers-e82bf7cd2a28?source=rss----430d9242e45e---4