Crypto & Digital Assets · Spain
Crypto license in Spain: MiCA CASP requirements (2026)
Spain shaded by its crypto & digital assets status
Crypto is regulated in Spain, primarily under EU Markets in Crypto-Assets Regulation (MiCA, Regulation (EU) 2023/1114) is directly applicable, with national supervision by the CNMV (Comisión Nacional del Mercado de Valores) for CASPs/ARTs market conduct and the Banco de España for stablecoin (ART/EMT) prudential supervision. National rules complement MiCA: Ley 6/2023 de los Mercados de Valores y de los Servicios de Inversión; CNMV Circular 1/2022 on crypto-asset advertising; AML/CFT under Ley 10/2010 (as amended by Real Decreto-ley 7/2021); and tax obligations under Ley 11/2021 (Modelos 172, 173, 721). Crypto is legal as an investment/payment medium but is not legal tender..
Spain treats crypto-assets as a legal, fully regulated activity built on the EU MiCA Regulation, which has applied to stablecoins since 30 June 2024 and to CASPs since 30 December 2024. The CNMV is the lead competent authority for CASP authorisation, market conduct and advertising, while the Banco de España supervises ART/EMT issuers. A national transition (grandfathering) period for incumbent providers registered with the Banco de España before 30 December 2024 runs until 30 June 2026, after which a 'comply or quit' regime applies — only MiCA-authorised firms may operate.
How to get a crypto license in Spain
To provide crypto-asset services in Spain you need a MiCA CASP authorisation (Crypto-Asset Service Provider), supervised by the Comisión Nacional del Mercado de Valores (CNMV), under the EU Markets in Crypto-Assets Regulation (MiCA), Title V.
- Authority
- the Comisión Nacional del Mercado de Valores (CNMV)
- License required
- a MiCA CASP authorisation (Crypto-Asset Service Provider)
- Framework / law
- the EU Markets in Crypto-Assets Regulation (MiCA), Title V
- Minimum capital
- €50,000–€150,000 minimum, by service class (Class 1/2/3)
- Timeline
- about 40 working days of substantive review; 1–3 months for a well-prepared application
- Cost
- an application fee of roughly €5,000–€25,000, plus ongoing supervisory fees
- Passporting
- Yes — a single MiCA CASP licence passports across all 27 EU member states.
Crypto license in Spain: FAQ
Yes. To provide crypto-asset services in Spain you need a MiCA CASP authorisation (Crypto-Asset Service Provider), supervised by the Comisión Nacional del Mercado de Valores (CNMV), under the EU Markets in Crypto-Assets Regulation (MiCA), Title V.
The Comisión Nacional del Mercado de Valores (CNMV).
An application fee of roughly €5,000–€25,000, plus ongoing supervisory fees.
Typically about 40 working days of substantive review; 1–3 months for a well-prepared application.
Yes — a single MiCA CASP licence passports across all 27 EU member states.
Key points
Since 30 Dec 2024 MiCA Title II–VI applies to crypto-asset offerings, CASPs and market abuse; the CNMV has formally assumed authorisation and supervision of CASPs (taking over from the Banco de España's prior AML register), and BBVA was among the first Spanish entities to obtain a MiCA licence.
Spain used the MiCA national discretion to shorten the transitional period: incumbents that operated under the Banco de España's Real Decreto-ley 7/2021 register can continue providing services without a MiCA licence only until 30 June 2026; after 1 July 2026 unlicensed activity is prohibited.
ARTs and EMTs have been subject to MiCA authorisation since 30 June 2024. In Spain the Banco de España is the competent authority for prudential supervision, reserve, redemption and own-funds requirements of ART/EMT issuers; only credit institutions and authorised EMIs may issue EMTs.
Crypto-asset advertising aimed at the Spanish public must be clear, balanced and non-misleading, include prescribed risk warnings, and mass campaigns (>100,000 recipients) or influencer promotions require prior notification to the CNMV under Article 240 bis of Ley 6/2023.
Gains from crypto are taxed as savings income under IRPF at progressive rates of 19%–28% (28% above €300,000). Residents must use Modelo 172 (Spanish CASP balances), Modelo 173 (operations) and Modelo 721 (crypto held abroad above €50,000) administered by the Agencia Tributaria.
From 1 January 2026 Spanish-resident CASPs must perform CARF/DAC8 due diligence on users and report transactional data to the Agencia Tributaria, which exchanges it automatically with EU and OECD partners; this layers onto existing Modelo 172/173 obligations.
Timeline - major decisions & events
BBVA became the first traditional bank in Spain to offer retail customers buy, sell, and custody services for Bitcoin and Ether directly within its mobile banking app, following its CNMV MiCA authorization. This marked the first bank-delivered crypto product under the EU MiCA framework in Spain.
CoinTelegraph ↗The CNMV approved BBVA as the first entity in Spain to receive full authorization as a Crypto-Asset Service Provider (CASP) under MiCA, covering custody, trading, and investment services. BBVA remained the only institution with a full MiCA license in Spain through mid-2025.
CNMV ↗Spain's Ministry of Finance published the ministerial orders creating Form 721 (declaration of crypto held abroad exceeding €50,000, with €5,000-per-item penalty for non-filing), and Forms 172/173 (exchange-level reporting of client balances and operations), implementing the 2021 anti-fraud law's crypto disclosure mandate. First Form 721 filings covered tax year 2023.
Agencia Tributaria (AEAT) ↗The CNMV published Circular 1/2022 (entering force 17 February 2022) requiring a 10-business-day prior notification to the CNMV before any mass crypto advertising campaign, mandatory risk disclaimers on all ads, and a two-year register of published materials. Influencers paid per acquired client were treated as client-acquisition agents subject to supervisory oversight.
CNMV ↗Six months after Royal Decree-Law 7/2021, the Banco de España stood up its public registry for virtual asset service providers covering fiat-crypto exchange and custodian wallet services. Existing operators had until 29 January 2022 to register; operating without registration was a very serious infringement carrying fines up to €10 million.
Banco de España ↗Spain enacted Law 11/2021 (Ley de medidas de prevención y lucha contra el fraude fiscal), the first Spanish statute to require taxpayers to disclose virtual currency holdings and operations to the AEAT. The law also mandated crypto exchanges operating in Spain to report customer data, laying the legal basis for the later Modelo 721/172/173 forms.
BOE (Official State Gazette) ↗Spain transposed the EU Fifth Anti-Money Laundering Directive through Royal Decree-Law 7/2021, formally defining 'virtual assets,' classifying crypto-fiat exchange and custodian wallet providers as obliged subjects under Law 10/2010, and requiring them to register with the Banco de España and submit to SEPBLAC supervision, Spain's first substantive crypto regulation.
BOE (Official State Gazette) ↗Spain's two principal financial supervisors issued a joint statement warning the public of extreme volatility, complexity, and lack of transparency in crypto assets, and clarified that some crypto-assets could qualify as securities subject to CNMV jurisdiction. This was Spain's first formal regulatory signal that crypto was on the supervisory radar, predating any binding legislation.
CNMV / Banco de España (via IOSCO) ↗Spain - other topics
Crypto & Digital Assets in other countries
Last verified 6/18/2026 · Orientation, not legal advice - verify against the primary sources linked above. Methodology & how to cite · Explore the full world map →