Spain says it does not need to declare Form 721 for self-contained cryptocurrencies

西班牙税务机关确认：自持加密资产无需申报Form 721

西班牙税务当局已正式确认，对于由纳税人自行保管私钥且未交由外国第三方托管机构持有的加密货币，无需通过Form 721表格进行申报。这一规定明确了在个人完全掌控资产控制权的前提下，自持钱包内的加密资产不属于该申报义务的范围。

核心要点总结

• 自持豁免原则：当纳税人能够控制其私钥时，持有于自持钱包中的加密货币不落入Form 721的申报范畴。
• 托管与控制的区分：若私钥由位于西班牙境外的第三方保管，则可能触发申报义务。决定是否需要申报的关键在于“ custody（托管）”和“ control（控制）”，而非钱包的技术类型（热钱包或冷钱包均适用同一标准）。
• DAC8指令的影响：尽管自持资产免报Form 721，但当加密资产在受监管平台与自持钱包之间转移时，欧盟DAC8指令仍可能要求服务提供商记录并报告相关交易信息。

官方指引与法律依据

西班牙税务总局（Directorate General of Taxes）于4月21日发布的具有约束力的咨询意见V0848/26中详细阐述了上述处理方式。根据西班牙税务局对Form 721的指导方针，申报义务的核心判定标准是谁控制和保管私钥。

根据现行规则，Form 721主要针对的是位于境外、由实体代为保管私人密码学密钥，或以其他形式维持、存储和转移资产的虚拟货币。申报义务适用于居住在西班牙的个人和法人实体、非居民人在该国设立的常设机构，以及受西班牙《一般税法》涵盖的其他特定实体。此外，作为合格加密资产受益人、授权人员或拥有处置权的人，同样可能受到申报规则的约束。

自持与托管钱包的区别

西班牙税务局基于私钥的控制权归属，严格区分了托管型和非托管型钱包。钱包是否连接互联网并非决定性因素。虽然热钱包和冷钱包在技术架构上存在差异，但Form 721的适用性取决于私钥的控制权归属。

如果纳税人自行保留私钥的控制权，即意味着没有委托第三方为其保管资产。因此，在此安排下持有的加密货币不计入Form 721的申报余额范围内。这意味着，只要纳税人控制私钥，无论是使用硬件钱包还是自持的热钱包，均可免于Form 721申报义务。

Spain has introduced an overseas crypto asset declaration framework in 2023, and the first declaration period will begin in 2024. Previously reported that Form 721 is designed to report qualified virtual currency positions located on foreign platforms, with a reporting threshold of 50,000 euros.

Two necessary conditions for triggering a declaration

To determine whether a cryptographic asset is included in the scope of Form 721, the following two conditions must be met:

1. Custody services exist: Virtual currency must be held by a person or entity that provides services to third parties for the custody of private cryptographic keys, or is responsible for maintaining, storing and transferring virtual currency.
2. The custodian must be located abroad: The custodian must be a person or entity located outside Spain or a foreign resident entity that does not have a relevant permanent establishment in Spanish territory.

The location of the service provider becomes relevant only after the first hosting condition is met. Just because the blockchain network is international in nature, or wallets can be accessed outside of Spain, is not enough to bring crypto balances into Form 721's calculations.

This distinction was further emphasized in the DGT Advisory Opinion V0848/26. The case involved a Spanish resident who established a limited liability company in the United States in 2025 to hold crypto assets for a long time. The taxpayer was the only member of the company and transferred cryptocurrency from his personal wallet to the company. The DGT reviewed the foreign company's interests and how cryptocurrencies are handled under Spain's overseas asset declaration rules.

For the crypto asset segment, the authorities examined two possible custody arrangements:

• Self-holding situation: If the assets are held through self-holding and the taxpayer stores the private key (including through physical hardware equipment), DGT means that these positions are not subject to overseas virtual currency reporting requirements. Whether the setting involves a hot wallet or a cold wallet, the treatment is the same.
• Third-Party Custody: If a foreign third party holds the private key on behalf of the taxpayer and other reporting conditions are met, the asset may fall within the scope of Form 721.

Control of private keys determines reporting treatment

Spanish authorities have partially drawn on the EU Cryptographic Asset Markets Regulation (MiCA) to define the concept of custody. MiCA defines the secure custody or control of cryptographic assets or their means of access on behalf of customers as custody and management. Private cryptographic keys can be used as these means of access.

This distinction distinguishes users who retain their own private keys from customers whose assets or access credentials are controlled by the service provider. At the same time, regulated crypto custody has become an important part of the Spanish financial industry. In June this year, Spanish banking group Cecabank launched a regulated custody platform after obtaining MiCA's authorized qualifications for crypto custody, transfer and order receipt and transmission. Renta 4 Banco was one of the first organizations to use this infrastructure.

Cecabank提供托管和银行基础设施，而Bit2Me负责交易执行、流动性和市场接入等领域。该银行已获得西班牙证券监管机构CNMV的授权，并在西班牙银行注册为加密资产服务提供商。此后，托管功能也出现在其他西班牙加密服务中。例如，Bit2Me于9月推出的Bit2Shield法医单位，使用多重签名冷钱包存储调查中被扣押的数字资产，直至当局下令处置。

自持资产仍可能产生其他申报记录

免除Form 721申报并不意味着涉及自持钱包的活动完全脱离所有加密申报框架。欧盟的DAC8税收报告制度已于2026年1月1日生效，要求加密资产服务提供商收集有关可报告用户和交易的信息。

根据欧盟DAC8加密税规则，当资产在受监管平台与外部地址（包括自持钱包）之间移动时，服务提供商可以收集交易信息。在这种情况下，报告义务由受框架覆盖的服务提供商承担，这与西班牙针对海外虚拟货币持仓的Form 721测试是分开的。

Form 721本身关注的是通过第三方托管商在海外持有的合格余额。西班牙税务局明确指出，在计算海外加密申报所涵盖的余额时，不包括通过纳税人自身私钥控制的虚拟货币。

The reporting obligation is not limited to those who still hold qualified assets as of December 31. If he was the owner, beneficiary or authorized person during the year, or otherwise had disposal rights, but lost that status before the end of the year, the taxpayer may still need to provide information on the date on which his status terminated. Declaring estates may also be required to declare if they belong to entities covered by Article 35.4 of the Spanish General Tax Law; heirs and legatees will also be bound by the relevant declaration requirements after inheritance is explicitly or implicitly accepted.