Spain’s 47% Crypto Tax: A Mixed Bag for Fintech Startups
Spain’s proposed tax hike to 47% on cryptocurrency profits is sending shockwaves through the fintech community. While the government aims to bring some structure to the chaotic crypto landscape, experts warn that such a steep tax could chase talent and investments to friendlier shores. As we delve into the implications of this tax, we can’t ignore how these changes could affect cryptocurrency payments and the broader fintech ecosystem.
The Tax Landscape for Cryptocurrency Payments
What’s the deal? The Sumar party is looking to raise the top tax rate on individual crypto gains to 47%, treating them like regular income. This means that anyone involved in cryptocurrency payments would be impacted. Currently, most crypto gains fall under…
