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DAC8 in Spain: What It Is and What Changes for Your Crypto in 2027

· Last revised 10/22/2026

Last reviewed: October 20, 2026. Spain's implementing rules are still going through the approval process; we will update this article when anything changes.

If you hold crypto on an exchange, you have probably heard of DAC8. It is an EU directive that brings tax transparency to crypto: crypto-asset service providers will have to collect data on their users and their transactions and report it to tax authorities, which then exchange it between EU countries. This article looks at how it is being applied in Spain.

What DAC8 Is

DAC8 is the short name for Council Directive (EU) 2023/2226 of October 17, 2023, which amends Directive 2011/16/EU on administrative cooperation in the field of taxation. It is the eighth amendment to that directive, hence the "8".

According to the draft order from Spain's Ministry of Finance (Ministerio de Hacienda), DAC8 "extends the automatic exchange of information to include crypto-assets" and brings the OECD framework known as CARF (Crypto-Asset Reporting Framework) into EU law. It also extends the Common Reporting Standard (CRS) for financial accounts to cover e-money and central bank digital currencies.

DAC8 does not create a new tax. What changes is how much information the tax authorities have about your transactions.

The EU Timeline

The European Commission summarizes the key dates as follows:

  • January 1, 2026: the rules apply. Providers start collecting data on the transactions of their EU-resident users.
  • 2027: providers report the 2026 information to their tax administration.
  • By September 30, 2027: tax administrations exchange the first year's information with each user's country of residence.

Source: European Commission, official DAC8 page.

In other words, what you do with your crypto in 2026 is the first thing that will reach the tax authorities under this new framework.

What Spain's Ministry of Finance Has Planned

On March 10, 2026, the Ministry of Finance opened a public consultation on a draft ministerial order adapting Spain's information returns (declaraciones informativas, annual reports filed with the Spanish Tax Agency, AEAT) to DAC8. The key points:

  • It creates Form 042 (modelo 042), for registering, updating and deregistering in a new Register of Crypto-Asset Operators.
  • It updates Form 172 (modelo 172), renamed "Information return on crypto-asset balances". It would be filed in January of the following year.
  • It creates Form 175 (modelo 175), "Information return of reporting crypto-asset service providers", also filed in January. It replaces Form 173 (modelo 173), which the draft repeals from tax year 2026.
  • It updates Form 721 (modelo 721), "Information return on crypto-assets held abroad", filed by individuals between January 1 and March 31.
  • Under the third final provision, these forms would first apply to tax year 2026 information, filed from 2027.

We explain each form in detail in Spain's Forms 172, 175 and 721: What They Report.

Important: It Is Not Final Yet

There are two caveats many articles overlook:

  1. It is a draft. As of this review we have not found the order published in the BOE (Spain's Official State Gazette). The final text may change.
  2. The law it depends on has not been passed. The draft order refers to a transposition law that still has no number ("Ley XX/XX"). Royal Decree 806/2026 of October 5 (BOE of October 6, 2026) dissolved the Spanish Parliament (Cortes Generales) and called elections for November 29. On dissolution, bills still under consideration lapse, so if the transposition law had not been passed, it will have to go through Parliament again in the new legislature.

Meanwhile, the current forms remain in force: 172 and 173 for providers (Order HFP/887/2023) and 721 for individuals (Order HFP/886/2023). The EU directive still requires Member States to apply it from 2026, so Spain's delay does not change the underlying trend.

The Basque Country and Navarre: Their Own Regional Rules

If you are tax resident in the Basque Country or Navarre, your tax authority is the relevant regional (foral) treasury, which has passed its own rules to apply DAC8 with effect from January 1, 2026:

All four contain the same practical rule: if you do not give your provider the information required under the due diligence rules, such as your tax residence, after the initial request and two reminders, and once 60 calendar days have passed since the initial request, the provider must prevent you from carrying out reportable transactions. Answer your exchange's data requests in time.

What Changes in Practice for You

1. The Tax Agency Will Know More, and Sooner

Under DAC8, exchanges operating in the EU will report users' identification data and transactions, and that information will be shared between countries. The Spanish Tax Agency will therefore also receive information about accounts on exchanges in other Member States.

2. Your Tax Return Has to Match

If the Tax Agency receives information about your transactions, what you declare in your IRPF (Spanish personal income tax) return and, where applicable, on Form 721 must be consistent with it. Start keeping your 2026 transaction history now.

3. Your Bank Will Ask Questions Too

This does not come from DAC8 but from Law 10/2010 on the prevention of money laundering: your bank must know the source of the funds it receives. When you sell crypto and transfer the money to your account, the bank may ask you to justify it. The Bank of Spain notes that banks may apply additional checks to transactions they consider high risk. With more tax information in circulation and more attention on the sector, it is sensible to expect these requests to become more common.

4. Have Your Paperwork Ready

If your bank asks you to justify the source, having your documents ready makes it easier to respond: where the initial money came from, which exchanges and wallets it passed through, and how it reached your account.

Checklist for 2026–2027

  • Download and keep the full history from every exchange you use (including closed accounts).
  • Note the public addresses of your wallets and the network each one is on.
  • Keep the bank records for the money you invested.
  • Check with your adviser whether you need to file Form 721.
  • If you are going to move a significant amount to your bank, prepare the source-of-funds documentation in advance.

For that last point you can generate a FundsOrigin report: it analyzes your wallet across 14 networks and gives you a PDF with a verification code to attach to your documentation. Whether to accept it is always up to the institution. Document the source of your crypto funds →

Official Sources

This content is for information only and does not constitute tax or legal advice. A FundsOrigin report does not guarantee acceptance by your bank or any other institution. Consult a professional about your situation.

Frequently Asked Questions

Is DAC8 a tax?
No. It is a reporting obligation for providers and an exchange-of-information system between tax administrations.
Do I have to file anything new as an individual?
The draft order does not create a new form for individuals. Form 721 already existed and is being updated. Check your situation with an adviser.
From when?
Under the draft order, 2026 information would be filed from 2027. In Spain, the final date depends on the transposition law being passed and the order being published.