Spain will oblige cryptocurrency holders to disclose their assets and income

According to Bloomberg, Spanish authorities intend to develop a bill that will oblige holders of digitalcurrencies to disclose their assets and profits earned from trading.

The draft of this law was first introduced in 2018year. Then the country's tax agency demanded that financial companies disclose the names and trade data of those who regularly purchase and trade cryptoassets.

The initiative was to prevent potential tax evasion and prevent money laundering with digital assets.

Curiously, crypto lord John McAfee recentlywas arrested by the Spanish police on tax evasion charges. McAfee is currently awaiting extradition to the United States, where he will be tried for preventing his tax payments for four years.

At the moment, the Russian government is considering a similar bill, obliging holders of digital currencies to disclose their crypto assets.

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