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Spain exempts self-custodied bitcoin from foreign asset disclosures

Original: SPAIN CONFIRMS SELF-CUSTODIED BITCOIN AND CRYPTO ARE EXEMPT FROM FOREIGN ASSET DISCLOSURES Spain’s tax authority says as

Spain's tax authority has confirmed that bitcoin and other cryptocurrencies held in self-custody are exempt from foreign asset disclosure requirements. Assets stored on hardware wallets or otherwise controlled by the taxpayer, who holds the private keys, do not need to be reported on Form 721, the declaration used for assets held abroad. The clarification is being welcomed by crypto holders in Spain as recognition of self-custody under tax rules.

Why now: Spain's tax authority issued a clarification with major implications for how crypto holders report self-custodied assets.

Spain Form 721 Bitcoin Agencia Tributaria

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SPAIN CONFIRMS SELF-CUSTODIED BITCOIN AND CRYPTO ARE EXEMPT FROM FOREIGN ASSET DISCLOSURES Spain’s tax authority says assets held in self-custody do not need to be reported on Form 721 as long as the taxpayer controls the private keys. The rule applies equally to hardware, cold · BitcoinNewsCom · 249

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