Crypto License in Spain

Planning to launch and grow your company in Spain? This country’s dynamic market landscape is indeed an ideal environment for your business idea to scale both domestically and internationally. The first, crucial step is obtaining the right crypto license in Spain and then registering your project as a CASP. Operating under a reliable license is your ticket to gaining your customers’ long-term trust while ensuring ongoing compliance. Where to start with your licensing procedure? A strategic decision is to cooperate with a team of legal professionals who will assist your authorization and license maintenance from day one.

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What Is a Crypto License in Spain?

The cryptocurrency license in Spain is a mandatory regulatory registration that formally authorizes your business to offer a wide range of crypto services, including the following:

Virtual currency exchange;
Storage;
Execution of orders;
Crypto advisory;
Custodianship and digital asset management;
Wallet services;
Portfolio management;
Operating a trading platform.

This crucial document is your EU-wide “passport,” allowing you to seamlessly provide these regulated services across all the European Union member states.

Legal Framework and Regulatory Authority of Crypto in Spain

Before stepping into Spain’s market, it’s important that you have a clear understanding of how its crypto regulation works. Here are two critical regulatory factors you need to know about before applying for your crypto license:

1. Markets in Crypto-Assets (MiCA) framework

Starting in December 2024, Markets in Crypto-Assets (MiCA), the new EU-wide regulation, will be gradually implemented. It signifies the transition from the Virtual Asset Service Provider (VASP) registration to the full Crypto-Asset Service Provider (CASP) license. Why is it significant as you’re obtaining your crypto exchange license in Spain?

MiCA introduces higher standards for initial capital requirements, robust governance structures, and more stringent compliance standards. Namely, the businesses must adhere to the stringent Anti-Money Laundering (AML), investor protection, and security requirements. The incorporation of the new framework is happening quickly, with both new challenges and opportunities arising.

The critical date to mark on your calendar is July 1, 2026. This is the final deadline for the transitional period, when all the existing VASPs and newly emerging businesses must apply for the CASP license within the MiCA regulation. While this procedure is strict and complex, it is manageable with the right strategy and professional support. Cooperating with experienced lawyers will help you secure your legal presence in the EU and enjoy the numerous benefits of crypto licensing in Spain.

2. National Securities Market Commission

As one of the key hubs for fintech within the EU, Spain provides a consistent and clear financial regulation of the securities market. The CNMV (or NSMC – National Securities Market Commission) is the national regulator overseeing the crypto and other types of licensing procedures for companies. When it comes to figuring out your taxes, profits repatriation, or crypto and fiat payments, Spain’s financial framework is known for its remarkably fast processing times and innovative infrastructure.

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Who Needs a Spanish Crypto License?

Now that you know how the Spanish crypto ecosystem works, you might wonder whether your business requires CASP authorization. Simply put, all companies that provide crypto services are obliged to obtain the CASP license before the critical 2026 deadline to continue their operations. Any legal entity that is officially registered in Spain or any other EU member state can apply once all financial and legal obligations are fulfilled.

Under MiCA’s supervision, Spain’s crypto landscape offers dynamic growth opportunities to the following types of market participants:

Startups opening new crypto platforms and exchanges within the European Union;
Existing companies aiming to expand across the EU;
Founders and investors seeking a low-risk, consistent, and well-regulated environment;
Fintech companies working on DeFi solutions, digital asset management, and tokenization.

No matter what corporate model you choose, securing your project with a Spanish license will strategically enhance your business’s reach within the global market and provide the legal certainty you need to scale your operations smoothly and efficiently. At Fintech Harbor Consulting Ltd, you’ll find a team of dedicated legal specialists who support both the established and newly emerging companies at every step with their market entry. With the lawyers’ proven expertise in Spain’s cryptocurrency regulation, your business is in safe hands and tuned for seamless growth.

Key Requirements for Obtaining a License

As you plan to obtain a crypto license in Spain, several legal requirements must be met before your application gets approved by the regulator. While MiCA is bringing the EU-level harmonization of crypto operations, there are still a few key factors that need to be complied with:

1. Company incorporation in Spain

Before filling out the license application, you need to register your business in the Spanish Commercial Registry. Keep in mind that either a physical or virtual office is required for that. The most commonly used type of legal entity is a Sociedad Limitada (SL), which is the Spanish equivalent of Limited Liability Company (LLC).

2. Compliance with AML, KYC, and security policies

One of MiCA’s key goals is the implementation of robust and reliable compliance standards, including the development of the internal Anti-Money Laundering (AML) policies, Know Your Customer (KYC) procedure documentation, reporting and regular audits, and security policies.

3. Minimum capital requirements, imposed by MiCA

The minimum capital requirements vary depending on the type of service you provide. There are three major levels of services, each with its own capital standard:

Basic services, limited to transmission of orders on behalf of third parties, providing advice on crypto assets, execution of orders on behalf of third parties, and placement of crypto assets: €50,000 (Class 1);
Exchange: €125,000 (Class 2);
Custody and trading platforms: €150,000 (Class 3).

Important note: Make sure that the capital is deposited in the bank account, has sufficient verification, and is of a legal origin.

4. Key personnel and office space

5. Required documentation

The list of the core documentation required for the application includes the following:

Detailed business plan;
AML and CTF policies;
IT security policies;
ICT security police;
Conflict of interest prevention policy;
Articles of association and company incorporation documents;
Proof of paid-in share capital;
Bank statement;
Personal documentations for directors and UBO;
Confirmation of the registered office address in a form of lease agreement.

This is not an exhaustive list of the necessary paperwork, since additional documents can be requested by the regulator, depending on your business model and scope of operations.

6. Taxation regime

These are the laws for crypto tax in Spain that apply to companies dealing with digital assets:

Corporate tax: 25%;
Withholding tax: Applicable to certain outbound payments, such as interest or dividends to foreign shareholders;
VAT: Not applicable to the crypto exchange operations, but may apply to other services;
Capital gains tax: Applicable to profits from digital assets and cryptocurrency held by the trading corporation.

Spain Crypto License Application Process Step-by-Step

Decided to get authorization for your business in Spain? Great choice, now it’s time to get practical and proceed with your application procedure. As you plan to apply for crypto license in Spain, here is what each step will look like:

1. Compliance assessment and initial consultation

The process begins with analyzing your business’s structure and assessing the necessary documentation you’ll need for the application. At this stage, lawyers with proven experience will schedule a consultation for you and discuss the regulatory requirements applicable specifically to your company, so that you have a clear understanding of what the further steps will look like.

2. Company registration

The next step is registering your business with the Commercial Registry (Registro Mercantil). It involves officially establishing your legal entity, confirming the office space, developing a detailed business plan, employing staff with proven experience, and strictly adhering to the regulations. Typically, company incorporation takes up to two weeks, provided that all documents are in order. This process requires the closest attention to detail and might seem overwhelming if you’re trying to do it all alone. That’s why cooperating with a team of expert lawyers will provide you with all the confidence and certainty you need.

3. Compliance documentation and application

Next comes the most crucial step, which is the preparation of the complete set of documents needed for your application. At this stage, the legal specialists will help you draft and review the internal policies, personal and corporate documentation, and correctly fill out the CASP application form to the National Securities Market Commission (CNMV). Development of the required policies usually takes from 3 to 4 weeks, subject to the specific case.

Filling out and submission of the application to the Commission typically takes around 3 months, given there are no delays in document issuance. After the documents are submitted to the National Securities Market Commission, the review process and ongoing communication typically take around six months, subject to any additional requests from the Commission.

4. Application finalization and license issuance

Lastly, if your application and documents are approved after thorough revision, you will be issued the license and supporting documentation. Keep in mind that as your application is being reviewed by the regulator, you might be requested to provide additional documents. Also, be sure to respond to the regulatory inquiries promptly to avoid delays in the process and ensure smooth application review. The timeframe for the final step in your licensing journey varies greatly depending on several factors, including the authority processing, document completeness, your business scope and model, etc.

Timeframe for Approval

Regarding the timeframe of your licensing procedure, it is heavily tied to the complexity of your business model, the scope of crypto services you need authorization for, and the overall speed of the regulator’s review process. The total estimated timeline from the initial compliance assessment to filing your CASP authorization form is under 6 months but subject to any additional requests from the regulator.

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Costs and Ongoing Obligations

Talking about Spain’s crypto license cost, it consists of two major categories of fees: first-year expenses and fees for additional services. Here is the standard breakdown of the associated expenses to expect as you apply for your CASP authorization:

1. Setup and first-year fees

Initial consultation and compliance assessment;
CASP application and compliance documents;
Company registration;
Representation and follow-up work;
Potential security deposit;
Additional service fees.

2. Additional services

Keep in mind that this is not the full list of expenses associated with CASP licensing in Spain. To get the most accurate quote for your business, with consideration for its current compliance and your specific goals, make sure to contact the team of legal specialists. With proven qualifications and experience, they will explain to you the costs related to the setup, first-year procedures, and the additional services starting from the second year of your licensed operations.

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AML and Compliance Standards in Spain

With the implementation of MiCA, the compliance requirements for crypto businesses have become significantly more stringent. The new framework’s key goal is to ensure the maximum safety and clarity in the innovative cryptocurrency sector EU-wide. The latest Spain’s crypto AML requirements include the following:

Develop mandatory internal policies;
Clearly document the KYC protocols;
Monitoring procedures;
Maintain AML policies and regular reports;
Appoint an AML officer;
Conduct external audits;
Update your business’s information regularly;
Renew your license on time;
Tax reporting, including transaction history and proof of capital sources.

These are the core compliance requirements valid in Spain and across all EU member states under the new MiCA regulation. It’s mandatory to adhere to Spain’s crypto exchange law for your company to be eligible for licensing.

Advantages of Getting Licensed in Spain

Once all the legal obligations are fulfilled and your business is secured with the CASP authorization, you get to enjoy a wide range of benefits of Spain’s crypto license that will help you expand your operations seamlessly and successfully:

1. Stable and well-regulated market

Under the supervision of the National Securities Market Commission (NSMC), you get to securely provide your cryptocurrency services, confident that the financial and legal obligations are clearly defined and consistent. Namely, the institution emphasises AML and security policies that boost the safe provision of your services.

2. Access to the entire European Union market

Besides its effective internal regulation in the sector, Spain’s favorable location provides another benefit for your company’s growth and global reach. Due to the country’s EU membership, obtaining the CASP license gives you access to the entire EU market.

3. Clear and consistent MiCA legal framework

Besides the NSMC’s oversight, the crypto licensing and operations are supervised by the new MiCA framework. Its standards are set to ensure legal clarity and transparent rules for your company’s activity.

4. Strict compliance and security standards

With the active implementation of MiCA, the European market has been harmonized and regulated. It provides legal clarity and certainty that is particularly crucial for the newly emerging companies and ventures offering exchange and digital wallet services.

How We Can Help You Obtain a Crypto License in Spain

How to ensure your crypto license in Spain application goes smoothly and without delays? How to prepare all the necessary documentation correctly with the minimum hassle? The answer lies in cooperating with a team of legal professionals from the very beginning of your licensing journey. At Fintech Harbor Consulting, dedicated specialists will consult with you on the financial and compliance-related issues, analyzing every aspect of your selected company structure and business goals you aim to achieve.

For your strong position in the EU market, it’s important to not only obtain your CASP license but also to renew and maintain it in the years to come. With the timely and accurate assistance, you’ll stay updated on any regulatory shifts and meet the critical deadlines for audits, reports, and your authorization renewal. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Frequently Asked Questions

What services require a crypto license in Spain?

Overall, every legal entity that is registered in the EU and provides crypto services is obliged to apply for the CASP license within the MiCA framework. If you perform any of these activities, you must get your business licensed by July 1, 2025:

Virtual currency exchange;
Storage;
Execution of orders;
Crypto advisory;
Custodianship and digital asset management;
Wallet services;
Portfolio management;
Operating a trading platform.

How long does it take to obtain a Spanish crypto license?

The typical timeframe for obtaining your Spanish CASP license, from the initial consultation to your document submission, is about 6 months, given the quality and completeness of your documents and the revision speed of the local regulator or any regulator’s additional requests during the application review stage. To avoid any possible delays along the way, make sure to contact a team of dedicated legal professionals who will proactively assist you with every step of the process.

What documents are needed for the application?

The standard list of documents required for your crypto licensing includes the following:

Detailed business plan;
AML and CTF policies;
ICT security police;
IT security policies;
Conflict of interest prevention policy;
Articles of association and company incorporation documents;
Proof of paid-in share capital;
Bank statements from a Spanish bank;
Personal documentations for directors and UBO;
Confirmation of the virtual office or lease agreement.

Kindly be informed that additional documents may be requested by the regulator at the application revision stage. For more details about what documents are required according to your business model and service scope, make sure to contact our legal specialists.

Is a physical office in Spain required?

The requirement regarding a physical office in Spain is not yet clear. We are awaiting any updated official guidance or regulations from the authorities.

Can foreign companies apply for a crypto license in Spain?

Yes, foreign businesses can apply for the Spanish CASP license. However, in order to do that, the entity must be registered with local regulatory authorities, the NSMC, and adhere to the stringent regulatory requirements. Besides the EU-wide legal standards implemented by the MiCA framework, your business must also be compliant with the national rules for services targeting EU and Spanish clients. This typically involves appointing a local director and establishing a physical presence in the country, although the virtual office space is now also permitted.