Spain exempts self-custodied crypto from foreign asset reporting

Spanish authorities officially announced an exemption from foreign asset reporting requirements for virtual assets held in self-custody wallets. They also said virtual assets held through overseas custodians must be reported under Form 721 only when total holdings exceed €50,000 ($53,000). In addition, assets bought and fully sold within the same year on overseas exchanges are excluded from the reporting requirement.

Source: Coinness