Crypto License in Spain
Last Update: 18.03.2026
Spain has become one of the leading and most promising jurisdictions within the European Union for companies investing in the blockchain sector. A crypto license in Spain means working in a crypto-friendly environment with a rapidly growing number of services and innovative companies entering this market. Gofaizen & Sherle experts will help you understand the key features of the licensing regime and doing business in Spain.
As cryptocurrencies are actively changing the traditional financial system, their regulation plays a huge role. Anti-money laundering compliance in Spain aims to create a transparent and secure environment for all market participants. The provisions of Law 10/2010 of April 28 on preventing money laundering and terrorist financing, the Fifth EU Directive (5AMLD), and the MICA Regulation require all providers to register with government agencies. The Central Bank of Spain (SCB) is the main market regulator that oversees the implementation of AML/CFT procedures. The CNMV (National Securities Market Commission) administers all investment activities, and blockchain companies must obtain authorization from the CNMV (as of December 31, 2024) if they plan to offer crypto services.
Cryptocurrencies are not legal tender, are not backed by the central bank, and are not protected by the Deposit Guarantee Fund (FGD). Virtual currencies are a digital representation of value, and mining is considered an economic activity with tax obligations under the Commercial Code., Law 28/2022 of December 21 on start-ups.
Spain has a proactive attitude towards digital assets, with Coinbase, Bitpanda, and eToro (about 136 crypto companies in the SCB registry) operate officially, 369 BTC ATMs have been installed (the largest number in Europe), transactions worth more than $80 billion were carried out in 2024, and more than 9% of the population already actively use digital coins (in most cases for long-term investment).
Benefits of a Crypto License in Spain
EU crypto passport rights and the development of business partnerships.
With the introduction of uniform MICA standards, companies licensed in one EU country are legally entitled to operate in other EU jurisdictions and have access to the banking system and the opportunity to work with Banco BBVA, CaixaBank, Cecabank, Banco Sabadell, Openbank, and other financial institutions. In addition, a proven reputation provides opportunities for establishing business ties with Latin America, Africa, and Asia.
Strong legal framework.
A crypto license confirms that the company complies with all applicable regulations, strict AML/CFT procedures, and is supervised by the Central Bank, CNMV.
Development of the blockchain industry.
There are many blockchain incubators and venture funds in Spain ready to invest in fintech startups. Barcelona Tech City and Crypto Valley Spain offer development programs for startups, while K Fund and All Iron Ventures invest in the development of technological and innovative companies.
One license – several types of activities.
One license allows you to perform various functions from exchange/sale to ICO (depending on the selected class).
MICA Regulation
On December 30, 2024, the Regulation on Markets in Crypto Assets (MiCA) came into force. The introduction of these measures is aimed at harmonizing the work of the fintech market in EU countries. Spain has decided to complete the transition period, by December 31, 2025. For crypto providers, this means that anyone who did not have a license by December 2024 must obtain one, while those who already have a VASP license may continue to operate until December 30, 2025, provided they apply for a CASP license. After December 30, 2025, only companies authorized by the National Securities Market Commission (CNMV) will be entitled to provide crypto services. Mica regulation Spain means stricter requirements for legal entities, the introduction of AML/KYC procedures, the appointment of an AML manager, minimum capital (€60,000) and an office in the country, a detailed description of activities with technical documentation, risk management and investor protection guarantees, and the provision of all information about beneficiaries and ultimate owners.
The CNMV monitors compliance with MICA requirements, and the Bank of Spain may impose sanctions against crypto operators who do not comply.
Functionality and types of crypto activities for VASP in Spain
Spain’s crypto regulatory framework, namely Law No. 10/2010 of April 28, the Bank of Spain’s 2021 Regulation on the Registration of VASPs, and the Fifth EU Directive (5AMLD), require crypto operators to register with the CNMV and comply with AML/KYC when carrying out activities such as:
- Classic functions of digital asset exchanges for fiat and vice versa (crypto-dollar, dollar-crypto).
- Crypto/crypto exchange, swaps (BTC–ETH, ETH-USDT).
- Custodial service with private key management.
- Transfers between customers’ digital wallets.
- Organization of virtual crypto exchanges.
- Investment services, transfer of funds under trust management.
- ICO, IEO (subject to additional provisions of the Securities Market Act).
Request more information about the Spanish crypto license
Comparison of crypto activity regulation in different EU countries
| Country | Regulator | Types of services | AML/KYC | Minimum capital | Features |
|---|---|---|---|---|---|
| Spain | Banco de España (BdE) | All types of crypto services (exchange, storage, transfers, ICO). | Required | From €60,000 | A friendly crypto environment with a developed infrastructure |
| Germany | BaFIN | All types of crypto services (exchange, storage, transfers, brokerage activities) | Very strict standards | From €125,000 | Strict control over compliance with all requirements |
| France | AMF (L’Autorité des marchés financiers) | Exchange, sale, ICO, management/storage, consulting | Required | From €50,000 | Two levels of licensing (registration and licensing (basic and full)) |
| Estonia | FIU (Finantsinspektsioon) | Exchange, storage, transactions, ICO, consulting | Strict standards | From €100,000 | Physical presence, audit, and reporting |
| Lithuania | FCIS | Exchange, storage, trading, and ICO. | Required | From €50,000 | Popular among startups |
Requirements for obtaining CASP status
European legislation is quite strict on unauthorized activities in the field of cryptocurrencies. In Spain, providing crypto services without proper registration with government agencies leads to a fine of €10 million, and failure to comply with AML/CFT procedures leads to a fine of up to €5 million.
The Spanish crypto licensing process is fairly quick if all the requirements are fully met:
- Registration of a legal entity in the commercial register. Sociedad Limitada (SL/SA – LLC) is usually chosen for fintech activities.
- Local office. To conduct commercial activities, confirmation of a physical office (which may be rented) is required.
- Proven reputation of key persons. Mandatory hiring of an AML employee with appropriate professional qualifications, documented proof of the business reputation of all key managers/directors, as well as shareholders.
- AML/CFT procedures. Several regulations, such as EU Regulation 2023/1113 of May 31, 2023, EU Directive 2015/849 of June 9, 2023, and MICA, impose strict rules for the operation of blockchain companies and the execution of payments.
- Preparation of internal documentation. Applicants must submit a business plan to government agencies, indicating the management structure, types of activities, potential sources of income, risk management, and mitigation of threats to user capital, as well as technical documentation with cybersecurity protocols.
- Contribution of initial capital according to the class of activity. With the adoption of MICA, blockchain activities have been divided into classes, according to which crypto operators are required to have initial capital (from €50,000 for payment services to €150,000 for trading platforms).
Step-by-Step Process of Getting a Crypto License in Spain
Spain is considered one of Europe’s leading crypto jurisdictions. Legal activity involves several stages in the CASP registration process, such as:
Step 1: Creation of a legal entity.
The most common legal form here is SL/LLC.
Registration in the Commercial Register (Registro Mercantil) Sociedad Limitada crypto business is completed with the issuance of a registration certificate, which must be submitted to the Tax Service to obtain a NIF (identification number).
Step 2: Preparation of internal documentation.
The company needs to prepare a complete set of documents, including:
- AML/KYC policies.
- A business plan with a detailed description of the management structure and types of services, business development, a marketing plan for finding key customers, and an indication of potential sources of income.
- Identification details of all managers and shareholders, with confirmation of their business reputation.
- Confirmation of the existence of a local office.
Step 3: Initial capital.
Depending on the class of activity (MICA Regulation), the applicant must deposit the required amount into a bank account and confirm the source of the funds.
Step 4: Crypto license application in Spain.
Until December 30, 2024, the Central Bank was responsible for registering crypto operators, but after the adoption of MICA (during the transition period until December 30, 2025), applications are reviewed by the Securities Market Commission (CNMV).
The CNMV has 25 working days to assess the completeness of the data. Forty days are allocated for checking the quality and accuracy of the application, but if deficiencies are found, the document review period may be extended.
What documents are needed to obtain a crypto license in Spain?
The Spanish crypto market is regulated by several government agencies: the CNMV, the Central Bank, and the Spanish Anti-Money Laundering and Terrorist Financing Center (SEPBLAC). To pass all checks and confirm compliance with the established criteria, companies must submit:
- An application in the prescribed form.
- Incorporation documents (Articles of Association, Memorandum, Certificate of Registration, NIF).
- Full information about owners and shareholders (more than 10%): passport details, description of professional experience, certificates of no criminal record.
- A business plan with a detailed description of the types of services/operations, technical documentation (which platform will be used, security measures, data transfer protocols, etc.).
- Risk and liquidity management procedures, AML/KYC rules.
- Confirmation of the source of initial capital.
- Agreements with banks (when opening an account), with technical providers for the provision of OS and other systems.
Cryptocurrency Regulations in Spain
In this jurisdiction, only the euro has the status of a means of payment (Law 46/1998). Cryptocurrency is a digital asset that cannot be used to pay taxes or government fees (all settlements with government agencies are made in euros only), nor can it be used to pay salaries in digital currencies.
Since 2024, Royal Decree 249/2023 of April 4 has been in force, requiring everyone to declare the existence of virtual currencies and their use in transactions.
CNMV crypto oversight is aimed at controlling activities related to virtual assets and is based on several domestic and international legal acts, such as:
- Law 6/2023 of March 17 on securities markets and investment services (LMV).
- Commercial Code.
- Law 10/2010 of April 28 on preventing money laundering and terrorist financing.
- Law 11/2021 of July 9 on measures to prevent and combat tax fraud.
- Circular of February 17, 2022, regulating advertising rules for cryptocurrencies.
- MiCA Regulation.
- EU Directive 2018/1673 on anti-money laundering (AMLD 6).
- Directive 2014/65/EU on markets in financial instruments.
- Regulation on information accompanying transfers of funds (2025).
The legal framework is still under development, with the main requirements based on EU standards and criteria.
Financial Reporting and Tax Considerations for Crypto Business
Spanish crypto tax rates apply to transactions involving the sale, exchange, or payment for goods/services, gifts, or inheritance. Staking and mining are treated as commercial activities subject to the relevant taxes. Every year, owners of digital currencies must submit Form 721 if they have €50,000 or more (in crypto assets) in digital wallets.
Capital gains tax (IRPF) is calculated on a progressive scale:
- 19% on profits up to €6,000
- 21% on profits between €6,001 and €50,000
- 23% on profits above €50,000
For legal entities, the following are mandatory:
- Corporate tax – 25%.
- VAT -21% (exchange is not taxable).
Companies must submit Form 198 (declaration of transactions with virtual currencies) annually, as well as:
- Financial statements on profits and losses, and the balance sheet. Form 100 (profits/losses from digital currencies).
- Quarterly reports on mining activities (forms 130, 131).
- Report on suspicious transactions (upon request from government agencies).
- Declaration of beneficiaries.
Penalties for concealing income in digital assets and non-compliance with financial reporting rules can amount to €10,000.
Conclusion
Obtaining a crypto license from Spanish regulators is a step that leads to the legal operation of a business in the EU market and minimizes legal risks through the adoption of the MICA Regulation. The country is open to innovation and provides maximum support for the spread and expansion of the fintech sector, while strictly enforcing licensing rules. A proven reputation, operation in one of the most progressive jurisdictions, government support for startup development, and the prospect of long-term growth are all benefits of legalizing crypto business in Spain.
FAQ about crypto license in Spain
How to obtain a crypto license in Spain?
The Securities Market Commission (CNMV) accepts applications for permits related to crypto activities. The CNMV has 25 working days to assess the completeness of the application and 40 days to analyze the quality and reliability of the data.
What are the costs of applying for a crypto license?
In Spain, there is no set state fee for applying itself, but there are several mandatory requirements, such as: minimum capital (from €50,000), notarization of documents, and opening a bank account. All of this together affects the total cost.
Can non-residents apply for a crypto license?
Yes, there are no restrictions on the residency of shareholders/beneficiaries. The main requirement is proof of business reputation.
Is it necessary to have an office in Spain to apply for a crypto license?
Yes, one of the requirements is to have a physical office/business address for conducting activities related to cryptocurrencies.
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