TLDR
Spain will fully implement EU MiCA on July 1, 2026, for crypto service providers.
DAC8 mandates crypto exchanges report user transactions to EU tax authorities starting January 2026.
Spain’s crypto companies must secure MiCA authorization by July 2026 or cease operations.
MiCA applies across the EU, providing uniform rules for crypto firms starting in 2026.
Spain is set to fully enforce two major cryptocurrency regulations—the EU’s Markets in Crypto-Assets Regulation (MiCA) and the Directive on Administrative Cooperation (DAC8)—by 2026. These regulations aim to bring clarity and regulation to the rapidly growing crypto industry. Crypto service providers in Spain will need to comply with new rules that are designed to ensure proper oversight and tax compliance.
Spain will fully implement two key cryptocurrency regulations in 2026: the EU MiCA and DAC8. MiCA will come into effect on July 1, 2026, requiring all crypto service providers to obtain full authorization to continue operations. DAC8 will be enforced starting January 1, 2026,…
— Wu Blockchain (@WuBlockchain) December 24, 2025
The MiCA regulation will require all crypto service providers to obtain full authorization by July 1, 2026, or cease operations. Meanwhile, DAC8 will require exchanges to report users’ transactions and balances to EU tax authorities starting January 1, 2026. These changes are expected to impact a range of crypto activities, from exchanges to wallet services.
Spain’s Transitional Period for Crypto Service Providers
The Spanish government has adopted the EU’s maximum transitional period for MiCA compliance, giving crypto service providers until July 2026 to secure full authorization. This transitional period is meant to give businesses time to adapt to the new regulations.
During this time, companies that were already registered with Spain’s Bank of Spain before December 30, 2024, can continue their operations. This includes services like currency exchange and wallet custody.
Spain’s financial regulator has published detailed guidelines on how cryptocurrency companies must comply with Europe’s new Markets in Crypto-Assets (MiCA) regulation, clarifying the transition process for the country’s crypto industry.. See more > https://t.co/RW3yleqc6k pic.twitter.com/PomoniYmCR
— Brave New Coin (@bravenewcoin) December 20, 2025
However, businesses offering services like portfolio management or investment advice must also prove they were operational before December 30, 2024, to use the transitional period. The Bank of Spain has ceased accepting new registrations after this date, with the CNMV (National Securities Market Commission) now overseeing crypto business regulations in Spain.
What MiCA and DAC8 Mean for Crypto Exchanges
MiCA and DAC8 are significant because they require exchanges to comply with a broad set of requirements, including providing detailed reports of user activity. DAC8, which takes effect in January 2026, mandates that exchanges report user transactions, balances, and fund flows to EU tax authorities. Experts warn that the Spanish tax agency will be able to freeze or liquidate assets to settle tax debts, highlighting the need for crypto users to be cautious.
Meanwhile, MiCA’s July 2026 enforcement will ensure that only licensed firms can offer services across the EU. The regulation will affect a wide range of crypto services, including wallet providers, exchanges, and crypto asset managers. The CNMV has already begun accepting MiCA authorization applications for Spanish crypto firms, with only a few, including BBVA, currently licensed.
Registration and Compliance Process for Crypto Firms
The CNMV has provided guidance on the application process for crypto service providers looking to comply with MiCA. The process requires companies to submit over 100 pages of detailed information about their operations, governance, and risk management practices. However, some firms that are already regulated under EU laws, such as banks or e-money institutions, can follow a simplified notification procedure instead of going through full authorization.
In addition, the CNMV has clarified that companies based in other EU countries, even those using transitional periods, cannot automatically provide services to Spanish customers unless they also meet Spain’s transitional rules. This ensures that businesses follow specific national regulations until they obtain full MiCA authorization.
