Do I have to declare cryptocurrency held on foreign platforms in Spain (Modelo 721)?

Checked on 2026-10-25

Yes, if you are resident in Spain and the virtual currencies you hold through foreign custodians that safeguard private keys are worth more than €50,000 in total at 31 December. You report them between 1 January and 31 March of the next year. Later years you report again only if the total grew by more than €20,000.

Key facts

What	The law says	Source
Who must report	Individuals resident in Spain (also companies and others)	Ley 58/2003, DA 18.d; RD 1065/2007, art. 42 quater.1
What	Virtual currencies held by people or entities that safeguard private cryptographic keys on behalf of others, to hold, store and transfer virtual currencies	RD 1065/2007, art. 42 quater.1
When crypto counts as “abroad”	When the custodian is not obliged to report under paragraph 6 of the 13th additional provision of Ley 35/2006	RD 1065/2007, art. 42 quater.2
Threshold	Nothing to report if the balances at 31 December, valued in euros, do not exceed €50,000 jointly; above that, report all of them	RD 1065/2007, art. 42 quater.5.d
Deadline	1 January to 31 March of the year after the year reported	RD 1065/2007, art. 42 quater.6
Later years	Report again only when the joint balance grew by more than €20,000 since your last return	RD 1065/2007, art. 42 quater.6
Form	Modelo 721	Agencia Tributaria, informative returns list

Who counts as a holder

The obligation covers holders, beneficiaries, authorised persons, anyone with any other power of disposal, and beneficial owners. It also covers people who held the crypto at any time during the year but no longer did at 31 December; they report the balances on the date they stopped holding it, and for them the return is compulsory in all cases (RD 1065/2007, art. 42 quater.1, 42 quater.4, 42 quater.6).

What you report

The regulation lists (RD 1065/2007, art. 42 quater.3):

the custodian’s name, tax number in its country of residence where applicable, and address or website;
each type of virtual currency;
the balance of each type at 31 December, in units and in euros.

For the euro value, you use the 31 December price offered by the main trading platforms or price-tracking websites. If there is none, you give a reasonable estimate of the market value in euros and state the price or value you used.

Foreign bank accounts, securities and property are reported on Modelo 720, with the same €50,000 and 31 March rules. See the page on Modelo 720.

Sources

Change history

2026-10-25: Page created

This is general information, not legal advice, and Lumen is not a law firm. Rules change and offices differ: check the official sources above before you act. Found something wrong or out of date? Write to support@lumen.observer.