Is the Spanish Treasury Planning to Seize Cryptocurrency for Unpaid Taxes?

The Spanish Treasury is making moves to tap into the crypto world to recover unpaid taxes. In particular, they are proposing a tax reform that would enable them to seize cryptocurrencies and digital assets from taxpayers to settle their tax debts. Well, well, well, it looks like the tax authorities are aiming to crack down on those who have been shirking their tax responsibilities. The plan involves declaring electronic money entities as tax collection agents, which would allow the Spanish tax watchdog, Agencia Tributaria, to seize crypto holdings for unpaid taxes. This reform, if implemented, would give the state administration the right to embargo digital assets, a responsibility previously held only by traditional banks and credit cooperatives. The Spanish administration has wasted no time and already issued a royal decree to declare electronic money entities as tax collection agents. This decree, effective since February 1, marks a significant step towards the proposed tax reform. <a href="https://medium.com/paulacy-pulse-crypto/is-the-spanish-treasury-planning-to-seize-cryptocurrency-for-unpaid-taxes-43a70ad61f8b">Website</a>