Crypto license in Spain

To operate a crypto business in Spain, you need to register as a Virtual Asset Service Provider (VASP) with the Bank of Spain. From December 2024, most crypto businesses must hold a Crypto-Asset Service Provider (CASP) license under the EU’s MiCA regulation. CASP licenses will cover activities like exchange, custody, payment, and portfolio management.

The Bank of Spain manages VASP registration and supervision. The National Securities Market Commission (CNMV) handles compliance with MiCA, oversees advertising, and is the main contact for license applications. SEPBLAC is responsible for anti-money laundering and counter-terrorism oversight.

Crypto companies must register with the Bank of Spain or CNMV, even without a physical office if serving Spanish clients. AML/KYC policies, regular transaction reporting, and at least one EU-resident board member are required. Companies need minimum capital of €125,000–€150,000, and all advertising to large audiences must be pre-notified to the CNMV.

The total official and professional fees for licensing are usually €15,000–€20,000, depending on your business model. You also need to fund minimum share capital of €125,000–€150,000, depending on the licensed activities. Maintenance costs are moderate compared to other EU markets.

The process—from company formation to licensing—typically takes 1–2 months. Application preparation, regulatory review, and remote company setup can happen in parallel. Existing providers must transition to a CASP license by December 2025.

A physical office is not required. You need a legal address in Spain and at least one EU-resident director. Licensing and company setup can be managed 100% remotely using a Power of Attorney.

Individuals pay capital gains tax on crypto profits—between 19% and 23% depending on the amount. Crypto companies and miners are taxed on business income. Both residents and non-residents must report all crypto balances and transactions; failure to comply may result in significant fines.