Licentium

Fintech Licensing Hub

Spain

Spain regulates crypto under MiCA with the CNMV (National Securities Market Commission) as the sole competent authority for CASP authorisation and Banco de España for asset-referenced and e-money tokens; it took the full 18-month transition ending 1 July 2026, and the Bank of Spain's legacy virtual-currency register is now informational only. Spain taxes individual crypto gains as savings income at progressive rates up to 30% (raised in 2025), with crypto-to-crypto swaps taxable and a Modelo 721 declaration for foreign holdings over €50,000. Payments and e-money run under Real Decreto-ley 19/2018 (PSD2/EMD2), supervised by Banco de España, with the Instant Payments Regulation and DORA in force; gambling is regulated by the DGOJ under Law 13/2011, with a 20% GGR tax and strict advertising rules — and Spain is in the euro area and banking union.

Available licences

Crypto-Asset Service Provider authorisation (CNMV under MiCAR)

Custody, operation of a trading platform, exchange of crypto-assets for funds or other crypto-assets, execution, placing, reception and transmission of orders, advice, portfolio management and transfer services require CNMV authorisation under Article 63 MiCAR; an authorisation passports across the EEA.

Asset-Referenced Token (ART) issuer authorisation (Banco de España)

Public offering or admission to trading of a token referencing a basket of values, rights or currencies requires authorisation as an ART issuer under Title III MiCAR, with Banco de España as competent authority.

E-Money Token (EMT) issuer (credit institution or EMI; Banco de España)

EMTs (including fiat-backed stablecoins) may be issued only by an authorised credit institution or e-money institution, with redemption at par; Banco de España is the competent authority for EMT issuers.

Article 60 MiCAR notification route (existing financial entities)

Credit institutions, investment firms, e-money and payment institutions and other authorised entities may provide specified crypto-asset services by notifying the relevant authority (the CNMV, or Banco de España for EMT-related services) at least 40 working days before starting.

Payment Institution authorisation (Banco de España under RDL 19/2018)

A licence to provide payment services under the Spanish PSD2 transposition, supervised by Banco de España and passportable across the EEA.

E-Money Institution authorisation (Banco de España)

A licence to issue electronic money and provide related payment services, with EUR 350,000 minimum initial capital, supervised by Banco de España.

Account Information and Payment Initiation Services (Banco de España)

Open-banking providers — account information and payment initiation service providers — fall within RDL 19/2018, with strong customer authentication.

Banking authorisation (Banco de España and the ECB/SSM)

Deposit-taking and lending require a banking licence; in the banking union the European Central Bank grants the licence and directly supervises significant institutions, with Banco de España supervising less-significant ones.

Investment firm authorisation (CNMV — MiFID II)

Investment services in financial instruments require CNMV authorisation under the Spanish MiFID II framework.

General gambling licence (DGOJ — via public tender)

A general licence under Law 13/2011 covering a broad category (betting, other games, contests), valid for ten years and renewable, awarded by periodic public tender.

Singular gambling licence (DGOJ — per vertical)

A singular licence for each specific game (sports betting, casino, poker, bingo), valid for five years; the holder must already hold a general licence.

Detailed overview

Spain at a glance

Spain combines a clear MiCA framework, savings-based crypto taxation and a mature gambling market. Crypto is supervised by the CNMV (CASPs) and Banco de España (ART/EMT); the full 18-month transition ended 1 July 2026. Payments run under RDL 19/2018 with Banco de España as supervisor and the Instant Payments Regulation and DORA in force. Gambling runs under Law 13/2011, supervised by the DGOJ. The euro is the currency, and Spain sits inside the euro area and banking union.

Crypto regime under MiCA — CNMV-led, split with Banco de España:

  • MiCA — Regulation (EU) 2023/1114 (MiCAR) applies directly; the CNMV is the designated national competent authority for CASPs and crypto-assets other than ART/EMT
  • Competent authorities — the CNMV for CASP authorisation and supervision (and as ESMA point of contact); Banco de España for ART and EMT issuers; SEPBLAC as the AML financial intelligence unit
  • Grandfathering — closed. Spain adopted the full 18-month transition ending 1 July 2026 (after earlier signalling a shorter window): entities in the Bank of Spain's virtual-currency register at 30 December 2024 could continue the same services until 1 July 2026, or until CASP authorisation was granted or refused
  • Pre-MiCA heritage — the Bank of Spain's virtual-currency register (under Law 10/2010 on AML), open since May 2021; the Bank stopped accepting new registrations on 30 December 2024, and the register is now historical and informational only, with the CNMV assuming full responsibility
  • Market reality — Spain's pre-MiCA market was substantial, but only a handful of CASPs were CNMV-authorised by mid-2026 (BBVA the highest-profile); the CNMV runs a firm "comply-or-quit" stance and publishes warnings on unauthorised entities ("Chiringuitos Financieros")
  • AML/CFT — Law 10/2010 applies, with SEPBLAC; the EU AML package (Regulation (EU) 2024/1624 / AMLR, with AMLA in Frankfurt) applies from 10 July 2027
  • TFR / DORA — the Travel Rule (Regulation (EU) 2023/1113) applies from 30 December 2024 and DORA from 17 January 2025; DAC8 reporting runs from 2026
  • Tax — individual crypto gains are taxed as savings income (ganancias patrimoniales) in IRPF at progressive rates of 19% / 21% / 23% / 27% / 30% (the top band was raised to 30% for 2025); crypto-to-crypto swaps are taxable (permuta), using FIFO; gains are reported on Modelo 100 and foreign-held crypto over EUR 50,000 on the informational Modelo 721; mining and airdrops are taxed as general income (up to 47%); crypto counts toward Wealth Tax and the Temporary Solidarity Tax on Large Fortunes. Companies pay corporate income tax

Payments and e-money regime (Banco de España-led):

  • PSD2 — Directive (EU) 2015/2366; transposed by Real Decreto-ley 19/2018, supervised by Banco de España
  • Payment Institution licensing — initial capital EUR 20,000 (money remittance), EUR 50,000 (payment initiation) and EUR 125,000 (other payment services)
  • EMD2 / E-Money Institution — Directive 2009/110/EC; EUR 350,000 initial capital; stablecoin (EMT) issuers must be EMIs or credit institutions
  • Instant Payments Regulation (Regulation (EU) 2024/886) — euro instant payments: receiving applicable from 9 January 2025 and sending from 9 October 2025
  • DORA (Regulation (EU) 2022/2554) — applicable from 17 January 2025
  • PSD3 / PSR — Commission proposals of 28 June 2023; provisional political agreement reached 27 November 2025, with final compromise texts published 23 April 2026 and formal adoption expected during 2026; the package will repeal PSD2 and EMD2 and fold e-money institutions into payment institutions
  • Banking — in the banking union the ECB grants banking licences and directly supervises significant institutions, with Banco de España supervising less-significant ones
  • Currency: euro (founding member); no exchange controls

Gambling regime — DGOJ-licensed, strictly advertised:

  • Law 13/2011 (Spanish Gambling Act) — established the national online licensing regime, developed by Royal Decrees (RD 1613/2011 technical, RD 1614/2011 licences, RD 958/2020 advertising, RD 176/2023 safer gambling)
  • Regulator — the DGOJ (under the Ministry of Consumer Affairs) for national online gambling; land-based gambling is regulated by the 17 autonomous communities
  • Licences — general licences (broad categories, ten years, awarded by periodic public tender) and singular licences (per vertical, five years); operators need an EU company, a .es site, a certified platform and a control server located in Spain
  • Tax — a 20% GGR tax on online gambling (reduced to 10% for operators in Ceuta and Melilla), self-assessed quarterly
  • Advertising — RD 958/2020 imposes strict limits (a 1:00–5:00 a.m. TV/radio window, bans on celebrity endorsement and shirt/stadium sponsorship), though the Supreme Court annulled key articles in 2024 and the Government is rebuilding the legal basis
  • Player protection — the RGIAJ national self-exclusion register, default deposit limits and a forthcoming cross-operator deposit-limit system; minimum age 18
  • No EU passport — gambling is licensed nationally

Last verified: July 2026. Reference rate: USD 1 ≈ EUR 0.87 (EUR 1 ≈ USD 1.15).

Spain is a euro-area jurisdiction with a large market and a clear comply-or-quit MiCA model (CNMV for CASPs, Banco de España for ART/EMT), savings-based crypto taxation up to 30% with Modelo 721 reporting, and a mature but strictly advertised DGOJ gambling market.

Is there a crypto licence in Spain?

Yes. Spain applies MiCAR with the CNMV as the sole competent authority for CASPs and Banco de España for ART/EMT. The full 18-month transition ended 1 July 2026, so operating now requires a CNMV authorisation, a valid MiCA passport, or an Article 60 notification.

The legal foundation:

  • Regulation (EU) 2023/1114 (MiCAR) — the directly applicable EU framework for offerings, admission and crypto-asset services
  • CNMV — designated national competent authority for CASPs; Banco de España for ART/EMT
  • Law 10/2010 — AML/CFT obligations and the legacy virtual-currency register, with SEPBLAC
  • Regulation (EU) 2023/1113 — Travel Rule for crypto-asset transfers

Structure:

  • A Spanish entity with genuine substance and fit-and-proper management
  • MiCAR own-funds floors by class — EUR 50,000 (Class 1), EUR 125,000 (Class 2), EUR 150,000 (Class 3) — with the higher of the floor or a fixed-overheads measure
  • AML systems, a white paper for in-scope offerings, custody and client-asset segregation, ICT and governance documentation, and a business plan — filed with the CNMV

Operational reality:

  • The CNMV treats the deadline as firm and the choice as "comply-or-quit"; legacy register status is no longer a route to ongoing activity
  • Conversion has been slow relative to Spain's large pre-MiCA market — most users are served by a few authorised CASPs and by passporting from other Member States
  • New activity should be structured through a CNMV authorisation, a valid passport or an Article 60 notification — not the closed transitional regime

Official CASP roadmap: The CNMV is the sole CASP authority and ESMA point of contact (Banco de España handles ART/EMT), and has accepted applications since September 2024; the Bank of Spain's legacy register is now informational only, and the full 18-month transition ended 1 July 2026. See the CNMV MiCA pages.

Payments & E-money (Banco de España — PSD2 / EMD2)

Best for payment, remittance, acquiring, wallet and e-money operators wanting a large euro-area market.

What it is: Authorisation as a payment institution or e-money institution under Real Decreto-ley 19/2018, supervised by Banco de España and passportable across the EEA.

Who it suits: Money-remittance and transfer providers, acquirers, card and wallet issuers, payment-initiation and account-information providers, and e-money issuers (including stablecoin issuers, who must be EMIs or credit institutions).

Covers: The payment services under RDL 19/2018 — incoming and outgoing transactions, transfers, card and instrument-based payments, money remittance, payment initiation and account information — plus issuance of electronic money.

Operational requirement: A Spanish entity; minimum initial capital by service type; ongoing own-funds and safeguarding of client funds; strong customer authentication; AML/CFT; DORA operational-resilience obligations; and fit-and-proper management.

Headline figures

  • Primary instruments: Real Decreto-ley 19/2018 (PSD2 / EMD2); Instant Payments Regulation (EU) 2024/886; DORA (Regulation (EU) 2022/2554)
  • Regulator: Banco de España (authorisation and supervision)
  • Entry capital: payment institutions EUR 20,000 / 50,000 / 125,000 by service type; e-money institutions EUR 350,000
  • Instant payments: euro instant payments receiving from 9 January 2025 and sending from 9 October 2025
  • Reform pipeline: PSD3 / PSR — political agreement November 2025, compromise texts April 2026, adoption expected during 2026; EMD2 to be repealed and EMIs folded into payment institutions
  • Currency: euro (founding member); no exchange controls

Is there a gambling licence in Spain?

Yes. The DGOJ licenses national online gambling under Law 13/2011 — a mature market, but entry depends on periodic tenders and advertising is tightly restricted.

The legal foundation:

  • Law 13/2011 (Spanish Gambling Act) — the national online framework, developed by Royal Decrees
  • DGOJ — licensing, supervision and enforcement for online gambling
  • Two-tier licences — general (category) and singular (vertical)

Structure:

  • General licences are awarded only by periodic public tender; singular licences follow for each game
  • Operators need an EU company, a .es site, a certified platform and a control server located in Spain
  • Land-based gambling is regulated separately by the autonomous communities

Gambling — General + singular licence (DGOJ)

Best for operators able to enter via tender and absorb strict advertising and player-protection rules in a large market.

What it is: A DGOJ general licence plus singular licences to offer online sports betting, casino, poker or bingo to Spanish players.

Who it suits: Established EU operators able to meet substance, technical, financial-guarantee and responsible-gambling requirements.

Covers: Online betting, casino, poker and bingo (per general and singular licences).

Operational requirement: An EU company, a .es website, a Spanish-located control server, a financial guarantee, certified platforms, RGIAJ integration, deposit limits and DGOJ reporting.

Headline figures

  • Primary instruments: Law 13/2011 and Royal Decrees (RD 1613/2011, RD 1614/2011, RD 958/2020, RD 176/2023)
  • Regulator: DGOJ (Dirección General de Ordenación del Juego)
  • Tax: 20% GGR tax on online gambling (10% for operators in Ceuta and Melilla)
  • Licences: general (ten years, via tender) and singular (five years); financial guarantee around EUR 2 million
  • Other: minimum age 18; strict advertising under RD 958/2020 (partly annulled by the Supreme Court in 2024); RGIAJ self-exclusion register

Costs and timelines at a glance

  • Crypto: MiCAR with the CNMV (CASPs) and Banco de España (ART/EMT); own-funds floors EUR 50,000 / 125,000 / 150,000 by class; CNMV accepting applications since September 2024; transition closed 1 July 2026
  • Payments primary instruments: Real Decreto-ley 19/2018 (PSD2 / EMD2); Instant Payments Regulation (EU) 2024/886; DORA
  • Payments regulator: Banco de España; banking licences via the ECB/SSM (banking-union member)
  • Reform pipeline: PSD3 / PSR — agreement November 2025, compromise texts April 2026, adoption expected during 2026
  • Gambling: DGOJ general/singular licences (tender-based); GGR tax 20% (10% Ceuta/Melilla); strict advertising under RD 958/2020
  • Tax: crypto gains as savings income 19–30% (top band raised to 30% for 2025), crypto-to-crypto taxable, Modelo 721 for foreign holdings over EUR 50,000; corporate income tax applies
  • Currency: euro (euro-area and banking-union member); no exchange controls
  • FX: USD 1 ≈ EUR 0.87 (EUR 1 ≈ USD 1.15)

Who Spain suits and who it does not

Suitable for

  • Crypto exchanges, custodians and token issuers wanting a large domestic market with CNMV authorisation and EEA passporting
  • Banks and incumbents integrating crypto under MiCA — Spain's first authorisations have skewed to established institutions
  • Stablecoin (EMT) issuers working with Banco de España and an authorised credit or e-money institution
  • Payment, e-money, acquiring and wallet operators wanting a large euro-area market
  • Established gambling operators able to enter via tender and meet strict advertising and player-protection rules

Not suitable for

  • Providers relying on a former Bank of Spain virtual-currency registration — the transition closed on 1 July 2026 and the register is now informational only
  • Active traders expecting tax-free swaps — crypto-to-crypto disposals are taxable and savings rates reach 30%
  • Holders wanting to avoid wealth reporting — crypto counts toward Wealth Tax, the Solidarity Tax on Large Fortunes and Modelo 721 foreign-holdings reporting
  • Gambling operators wanting open market entry or light advertising rules — entry is tender-based and RD 958/2020 is strict
  • Letterbox structures — the CNMV's comply-or-quit stance and warnings target low-substance and unauthorised entities

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