The Spanish parliament has proposed amending the cryptocurrency tax law, potentially raising the tax rate on Bitcoin gains to 47%.

According to CriptoNoticias, the Sumar group in the Spanish Parliament has submitted amendments to the Chamber of Deputies, proposing to amend three tax laws to strengthen the taxation of cryptocurrencies. The proposal suggests including gains from non-financial crypto assets in the general tax base for personal income tax, with a maximum tax rate of 47%, instead of the current 30% cap on savings. It also stipulates that such gains would be taxed at a 30% rate under corporate income tax. The proposal further requires the Spanish National Securities Market Commission (CNMV) to create a risk rating system for cryptocurrencies, mandating its display on investment platforms. In addition, the amendments include all crypto assets within the scope of seizureable assets, expanding the previous provisions that only applied to assets regulated by the EU's MiCA.