Spain’s Sumar parliamentary group has submitted a proposal that would change how gains from cryptocurrencies are taxed, potentially pushing the top personal rate to 47%.

According to reports, the draft would move profits from crypto out of the current “savings” tax bracket — where gains are taxed up to around 30% — into the general income tax base, which carries higher top rates.

Sumar’s Proposal And Key Changes

Based on reports , the changes do more than tweak rates. They would treat gains from nonfinancial crypto assets as ordinary income, apply a 30% corporate tax rate to business crypto gains, and label all digital assets as attachable or seizable under certain conditions.

The plan also asks Spain’s securities regulator to design a “risk traffic light” that platforms must dis

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