Spanish Tax Authority Sends 66,000 Warning Letters to Crypto Owners
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April 3, 2020

In the midst of the coronavirus crisis and the tax return campaign, the Spanish Tax Authority (AEAT) has decided to remind taxpayers of their tax obligations in relation to their cryptos.

Thus, the AEAT is sending a warning letter to about 66,000 crypto-owners.

Europa Press has reported the agency started the campaign on Wednesday and will be sending warning letters until June 30.

This is not the first time the tax authority issues such a warning. Last year it did the same, however, on that time it only sent 14,700 warnings, a figure much lower than the current 66,000. The AEAT is also sending these warnings to people who receive income from abroad or have real estate investments.

According to Javier Pastor, head of sales for the Spanish crypto exchange Bit2me, the government may be trying to raise funds to face the economic costs of the coronavirus pandemic.

He said:

"This doesn't really affect the companies that have been doing things well. I believe the AEAT is only scaring amateur crypto owners by applying these measures, besides I don't think they are going to collect much money from the crypto industry as it is not even regulated in the country."

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