Spain's Sumar Party Proposes Tax Amendments for Cryptocurrency

According to ChainCatcher, Spain's Sumar party has submitted a proposal to the House of Representatives to amend three tax laws aimed at enhancing cryptocurrency taxation. The proposal suggests including gains from non-financial cryptocurrency assets in the general tax base for personal income tax, with a maximum rate of 47%, compared to the current savings tax base cap of 30%. It also stipulates that such gains be taxed at a 30% rate under corporate income tax. Additionally, the proposal calls for the Spanish National Securities Market Commission (CNMV) to establish a risk rating system for cryptocurrencies, which would be mandatory on investment platforms. Furthermore, the amendment seeks to classify all cryptocurrency assets as seizable, expanding the previous regulation that applied only to assets under the EU's MiCA regulatory framework.