Spain’s Tax Agencies Want Crypto User Names And Bank Details

It’s According To A Local Source

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The Spanish Tax Authorities have been involved in sending requests for the cryptocurrency investor’s information to around 60 companies. This is according to a source linked with the tax agency of the country, and this was confirmed to CoinDesk from the local media reports.

According to the information derived from the source, the authorities reached out to 16 banks, around 12 cryptocurrency exchange companies and also other corporations which operate cryptocurrency ATMs and also more than 40 local organizations which accept payments using cryptocurrencies.

The agency, therefore, seeks to gain the information and data regarding the cryptocurrency transactions and details of the parties involved in all the transactions and executions. The various details which have been requested are the business client identities, the bank accounts and also information and details linked to the credit cards. Additionally, they seek to know the amounts and also exchange rates which have been documented in the transactions.

The tax agency, therefore, described the exercise of making the data requests as a prelude which would then lead to a more formal investigation and also monitoring. The agency also announced that it is involved in the analysis and investigation of the domestic use of the cryptocurrencies.

This news comes just as most of the global tax agencies have started growing interest in cryptocurrencies. One of them follows the recent market improvement with more than $800 billion in the first quarter of 2018.

Additionally, in Spain the news have been tracking the finance ministry efforts which has within itself, the tax agency, to make an address of Bitcoin and also the other cryptocurrencies in an official bulletin which was published in March. During this time, the government officials were in the quest to link the technology to the crime which was done. They then called for increased supervision and oversight.

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