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The Spanish tax authority will be able to confiscate cryptocurrencies from debtors

The government has approved a bill to implement the European Directive 2011/16/EU. It grants the tax authority the right to seize digital assets in cases of taxpayer debt.

These measures reflect the need to respond to "the rapid development of banking and payment services, including crypto-asset accounting technologies."

The new rules also clarify the obligation for platforms and service providers in the cryptocurrency sector to report information about users, both residents and non-residents. This is a step toward closer cooperation with other EU countries in identifying the shadow financial market.