The newly issued royal decree in Spain stipulates that from 2025:
Cash withdrawals exceeding 3,000 euros require a 24-hour advance declaration of purpose and recipient to tax authorities
Banks have the right to intercept transactions with incomplete documentation and report suspicious operations
Fines for violations can reach up to 150,000 euros (minimum 600 euros)
■ Point of Controversy:
The government claims the aim is to combat financial crime, but is criticized for "excessive surveillance"
Citizen X Company CEO warns: "Approval-based withdrawals equate to deprivation of property rights"
Bitcoin supporters denounce the policy as "totalitarian"
■ European Trend:
Italy and France have already implemented similar restrictions, and the EU is promoting cash control across the entire region. Analysts suggest this may boost demand for decentralized assets like Bitcoin.
