Spain cryptocurrency regulation does not currently exist. Instead, the country's officials have decided that these transactions will fall under the existing barter laws. This may be problematic for cryptocurrencies because it could mean that not only will investors be subject capital gains taxes, but they may also owe vat on certain transactions. This may even apply in peer to peer sales of cryptocurrencies since they do not see crypto as money.
The government has also launched some invasive investigations and requests that require financial services to turn over information about cryptocurrency users. These aggressive tactics don't look particularly good for their stance on cryptocurrencies in the future, and it's possible that activities may be heavily restricted in the future if these attitudes continue.
They have even begun issuing these notices for companies outside of the financial space such as Air BnB, asking these entities to reveal the identities of those participating on their platforms. This is troubling, and it could be a sign of harder times for crypto within this nation's borders.
The legality of Bitcoin in Spain is in good standing, but as previously stated the environment surrounding it may not be the most beneficial for investors living here. Besides, the problematic additional VAT taxes which could be argued are due on certain transactions, there's also the risk of heavy government interference in trading. Officials have targeted Bitcoin users and other cryptocurrencies as a potentially illegal activity, and that may greatly influence the amount of privacy for BTC transactions in the future.
The governor Linde of Banko de Espana has not had anything positive to say about cryptocurrencies, and users in this country might find that banking institutions could give them problems. He claims that cryptos present more risks than benefits. This news could signal a less favorable climate for digital currency here in the future. This is likely to create a more hostile environment for cryptocurrency users in the future and additional burdens for businesses who choose to accept Bitcoin or other altcoins for their goods or services, unfortunately.