Spain Says Self Custody Crypto Does Not Need Form 721 Reporting

Spain says self custody crypto does not need Form 721 reporting

Spain’s tax authorities have confirmed that cryptocurrency kept in self custody wallets does not have to be reported under Form 721, provided the owner retains control of the private keys and the assets are not held by a foreign third…

Spain Exempts Self-Custody Crypto From Foreign Asset Reporting

Crypto held in wallets where the owner controls the private keys does not fall under Spain’s Modelo 721 foreign-asset reporting requirement, drawing a clear tax-reporting line between self-custody and assets controlled by foreign custodians. The exemption applies whether the assets sit in a hot wallet or cold wallet. What determines the reporting obligation is who… Continue reading Spain Exempts Self-Custody Crypto From Foreign Asset Reporting

Spain’s Modelo 721 Crypto Rule Hinges on Key Control, Not Portfolio Size

Spain’s Modelo 721 excludes self-custodied crypto while foreign-held assets above €50,000 may trigger reporting requirements.