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According to Europa Press, the Spanish Revenue Service, the Agencia Estatal de Administración Tributaria (AEAT), is ready to issue 66,000 warning letters to citizens to foster its effort of enforcing tax payment on the earnings from cryptocurrency trading.

With the look of things, and judging by the reaction of the Spanish tax authorities, the citizens’ engagement in crypto trading has seemingly increased over the past financial year.

This could have prompted the Spanish Revenue Service to become stricter in monitoring citizens’ cryptocurrency-related activities.

Going by the report, the campaign of the agency has started already, and it will run until 30th June 2020.

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No Relief yet for Spanish Cryptocurrency Traders

Obviously, the world is battling the coronavirus pandemic, and Spain is so far one of the countries with most deaths and confirmed cases.

The crypto traders in the country hoped to shield themselves with the present situation, but the latest report implies that there is no relief yet for those concerned.

This tussle started in 2019 when the Agencia Estatal de Administración Tributaria (AEAT) warned some crypto traders in the country to submit declarations on their earnings.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.