Cryptocurrency assets in 2026 will mark a turning point in tax traceability.For years, many international investors residing in Spain believed that their foreign exchanges or cold wallets were invisible to the Spanish Tax Agency (AEAT). That premise is dead.
For the 2025 tax year, which will be declared in 2026, a perfect regulatory storm has been created: Model 721, the DAC8 directive and the CARF framework. All of this means that the tax authorities no longer rely solely on what you declare; they will now verify whether it matches the information they receive automatically.
Model 721: Key obligations for cryptocurrency assets in 2026
The obligation to declare cryptocurrencies held abroad
After the first Model 721 campaign, the AEAT strengthened its control systems. If a tax resident in Spain holds cryptocurrency assets abroad worth more than €50,000 on December 31, they must submit this declaration between January and March.
The common mistake about taxation
Many investors believe that if they do not sell, they do not pay taxes. Although this may be true for personal income tax, Model 721 is the gateway to the Wealth Tax and the Solidarity Tax. We have seen audits initiated because the declared balance exceeded the exemption threshold, generating unexpected tax liabilities.
DAC8: How automatic monitoring will affect cryptocurrency assets in 2026
Direct information from exchanges
DAC8 obliges all crypto-asset service providers (CASPs) to automatically send information to the European Union. This includes well-known exchanges such as Binance, Kraken or Coinbase.
Risk of automatic parallel assessments
If the DAC8 data does not match what is declared in Model 721, a parallel assessment will be automatically generated. The margin of error for 2026 is practically zero.
For more information about the directive, you can consult the official EU source:
https://economy-finance.ec.europa.eu/index_en
International taxation and cryptocurrency assets in 2026 by nationality
Investors from Germany and Switzerland
In Germany, holding cryptocurrencies for more than one year may exempt capital gains from taxation. When arriving in Spain, that benefit disappears. In addition, many investors forget to apply the step-up, resulting in taxation on gains generated before becoming Spanish tax residents.
Switzerland will also adopt CARF, eliminating cryptocurrency opacity in its financial system.
U.S. taxpayers
The United States considers cryptocurrencies as property, and swaps are taxable events. Spain applies a similar criterion. If LLC structures are used, rules on International Tax Transparency may apply.
Digital Nomads and the Beckham Law
Those covered by the Beckham Law do not have to file Model 721 or pay taxes on foreign-source capital gains. But defining what constitutes “foreign source” for cryptocurrency is complex and requires expert analysis.
The valuation trap for cryptocurrency assets in 2026
Illiquid tokens and NFTs
Valuing illiquid tokens or collapsed NFTs is one of the biggest challenges. The tax authorities require the market value as of December 31, something difficult to justify in certain cases.
Why cold wallets no longer guarantee anonymity
Although devices such as Ledger or Trezor do not report under DAC8, the AEAT uses advanced on-chain analysis tools that allow tracking funds from regulated exchanges to private wallets.
Tax roadmap before December 31, 2025
1. Traceability audit
The complete transaction history must be reconstructed using professional software and legal analysis.
2. Voluntary regularization
If you forgot to declare previous years, submitting a complementary declaration reduces risks and penalties.
3. Exit Tax planning
If you plan to leave Spain in 2026, you must consider the Exit Tax, especially if you hold a significant crypto portfolio.
Conclusion: Cryptocurrency assets in 2026 enter an era without opacity
The international taxation of cryptocurrency assets has changed forever. The year 2026 will be a turning point. Anticipating these changes is not optional; it is mandatory to avoid risks.
Specialized advisory on cryptocurrency assets in 2026 with Resitax
The regulation of cryptocurrency assets in 2026 will be more demanding than ever. If you operate on international exchanges, hold assets abroad, or are affected by Model 721 and DAC8, expert advice is essential.
You can learn more about our tax advisory services in Mallorca here:
https://resitax.eu/asesoria-fiscal-mallorca/
If you wish to contact our team directly, you can do so here:
https://resitax.eu/contacto/
At Resitax, we analyze your situation, design a solid tax strategy and accompany you with technical rigor and complete confidentiality.
Note
The content of this article is for informational purposes only and does not constitute binding legal advice. Each case must be analyzed individually.
