Spanish authorities introduce law requiring virtual asset service providers to report user transaction data

According to Techub News and Bitcoin.com, Spanish authorities have introduced a law requiring virtual asset service providers to report transaction data and user holdings. As part of the Administrative Cooperation Directive on Crypto-Asset Taxation (DAC8), the Spanish tax authorities will also obtain data on Spanish citizens with accounts at cryptocurrency exchanges in the EU or third countries with agreements with the EU. Additionally, the proposed draft will allow Spanish tax authorities to seize cryptocurrency holdings of any users with tax debts. DAC8 will be fully implemented in Europe in January 2026.