Crypto Tax 2025: How to Stay Legal Worldwide
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Bitcoin, Ethereum, stablecoins, NFTs... The digital revolution is no longer a promise: it's a reality with very specific tax implications. Whether you're trading, investing long-term, or using crypto as a payment method, it's essential to understand how these assets are reported and taxed.
This article walks you through the current tax rules for cryptocurrencies in 2025, with a global approach and no unnecessary jargon. It also covers new regulations in Spain that represent a turning point for crypto investors.
What are digital assets?
Digital assets refer to any economic value stored in digital format. In tax matters, the most relevant include:
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Cryptocurrencies (Bitcoin, Ethereum, etc.)
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Stablecoins (such as USDT, USDC)
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Tokens (fungible and non-fungible – NFTs)
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DeFi assets (income earned from protocols like staking, yield farming, etc.)
Do you have to declare your cryptocurrencies?
In most developed countries, the answer is yes. Although cryptocurrencies are not considered legal tender, they are recognized as taxable assets, and their holding or transfer creates tax obligations.
Common obligations include:
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Holding declarations (informative forms)
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Capital gains taxation (in case of sale)
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Income taxation (staking, airdrops, etc.)
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Declaring accounts in foreign exchanges
Types of operations and how they’re taxed
| Type of operation | Is it taxable? | Typical taxation |
|---|---|---|
| Purchase with fiat currency | No | Only recorded as an acquisition |
| Sale with profit | Yes | Capital gain |
| Crypto-to-crypto exchange | Yes | Gain is calculated for each swap |
| Staking or yield farming | Yes | Treated as capital income or business activity |
| Using crypto for purchases | Yes | Considered a taxable disposal with gain/loss |
| Airdrops and forks | Yes | Taxed at market value at the time of receipt |
What if you operate in multiple countries?
International crypto taxation is complex. If you have:
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Tax residence in one country
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Exchanges located in others
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Accounts in decentralized DeFi platforms
...you’ll need to review double tax treaties, local regulations, and reporting obligations. Failing to declare properly can result in fines, audits, or even charges of tax evasion.
How is gain or loss calculated?
The FIFO method (first-in, first-out) is commonly used, although some countries allow LIFO or weighted average methods.
Basic example:
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You buy 1 BTC for €20,000
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You sell it for €30,000
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Capital gain: €10,000, subject to taxation
What about NFTs?
NFTs are taxed like other digital assets, but treatment varies depending on your role:
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Collector or end user: taxed on capital gain at sale.
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NFT creator: taxed as business income or intellectual property revenue.
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Marketplace or intermediary: may be required to invoice, charge VAT, and declare business revenue.
What if you don’t report them?
Not reporting crypto doesn’t mean the tax authorities won’t find out. Many countries now require exchanges to share data. Plus, blockchain transactions are public and traceable.
Common penalties for non-compliance:
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Fines based on the undeclared amount
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Late payment interest and surcharges
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Tax evasion proceedings in serious cases
Conclusion
Crypto taxation has evolved from a grey area to a highly regulated landscape. Ignoring the rules can be costly.
Whether you operate from Spain, Latin America, or anywhere else, it's time to take your crypto tax management seriously and prepare for what’s coming.
Have crypto assets and don’t know how to stay compliant?
At InnoTaxes, we help you declare your crypto assets correctly, prepare for audits, and optimize your tax position with up-to-date technical expertise.
We have specialists in international taxation and digital asset compliance.