Cryptocurrency disclosure

Yes, according to the current tax legislation in Spain, it is mandatory to declare in IRPF (income tax) when crypto-crypto and crypto-fiat swaps are carried out.

No, holding crypto indefinitely (HODL) does not create any obligation to file personal income tax returns. This does not exclude the possibility of filing other tax returns depending on the amount of crypto being held.

For swaps you have to file IRPF, and there is also the possibility, depending on the amount, of needing to declare personal financial assets and file model 720 for assets held abroad (or similar).

In the corresponding tax form according to the transaction made.

This would be the same as any asset of inheritance and is taxed as a greater liquidating asset.

Penalties may be imposed for failure to declare in accordance with the provisions of the General Tax Law and in accordance with the tax in which the taxable event has not been declared. The penalties or surcharges vary depending on whether it is the Administration that reveals the operations or the taxpayer who, once the voluntary period for filing the tax return has expired, files a supplementary tax return.