A collapse of the virtual currency market does not necessarily mean a suspension of obligations to the Treasury. Thousands of investors in Spain have kept their portfolios in negative value after the 2021 bullish cycle, but the lack of management of these losses could lead to administrative complications for the tax office.
This situation has led various analysts to warn that the 2025 income tax calendar requires an active review, even if the fiscal balance is unfavorable.
The debate gained meaning on April 13, 2026, following the intervention of Esteban Rivero, founder of Cerro Uno, a Spanish cryptocurrency tax expert. He observes that many users will need to report their movements to the Treasury on their next tax return. Owning assets that have lost 87% to 99.9% of their value.
Therefore, this warning emphasizes that exchanging or selling these currencies will result in changes to your assets, although there will be no benefit. Must be reflected in tax history of the taxpayer.
Precisely in the Spanish system, cryptocurrencies are taxed as real estate assets, so every sale or exchange of tokens results in a taxable event. Profit and loss are determined by the difference in acquisition price. And send.
In this tax framework, the results are integrated into the savings tax base. The strategic value of this process lies in loss compensation, a tool that allows losses to be deducted from profits earned in the same year.
For example, if an investor incurs a loss of 2,000 euros on the sale of an altcoin, but gains a profit of 2,000 euros in Bitcoin, his tax base will be zero and he will be exempt from paying taxes on that gain. However, this mechanism can also be applied to profits after four years, so It is wasteful for users to leave their portfolios “in the red” without carrying out formal sales.
“We see investors every day who continue to hold these positions, but they will have to manage the taxes they will have to pay in Spain’s personal income tax (IRPF),” the expert said.
“There’s a lot of culture missing at the tax level,” Rivero added, suggesting that long periods of inaction could leave taxpayers without the legal benefits of disability compensation.
In this context, official data reflects important gaps in the tax formation of this sector. According to the 2023 income records, of the more than 286,000 businesses declared, 151,000 ended with negative balances.
Despite this volume, research from TaxDown and Criptan shows that; 70% of Spaniards exposed to crypto assets don’t know how to declare them These moves are correct and important in a market where the average investment amount per person is close to 5,000 euros.
At the same time, the state’s supervisory capacity was also strengthened, as reported by CriptoNoticias. The Treasury already consolidates information on foreign assets via Form 721, as well as data from domestic exchanges via Forms 172 and 173.
The European DAC8 directive will be added to this framework in 2026 and aims to standardize the automatic exchange of information between European Union member states and reduce opacity.
This regulatory evolution creates a split in positions. While some sectors of the community prioritize long-term accumulation without considering tax cycles, other investors They launch strategic sales to declare losses Therefore, the tax burden on the entire portfolio is reduced. The recommendations agree that planning should be an integral part of asset management and not a last-minute step.
At present, while the Tax Agency maintains its policy of updating its administrative mechanisms, the sector’s analysis continues to generate debate. While mere ownership of an asset does not immediately create a liability, exiting a position during the 2025 financial year will activate a reporting process that requires accuracy to avoid sanctions and the wastefulness of current compensation mechanisms.
(Tag to translate) Cryptocurrency
