Binance and the Spanish tax agency: what the AEAT knows about your trades and how to declare them

If you have traded on Binance while living in Spain, the Spanish tax agency (AEAT) has data about you. This is not a guess: Binance's Spanish subsidiary has been required to report its customers' balances and transactions to the tax agency. On top of that, since 1 July 2026 Binance no longer serves customers in Spain, so many users are moving their crypto to another platform.

In this guide we explain what information the AEAT receives from Binance, what changes now that it has left Spain, and what is taxable (and what is not) when you move or sell your crypto.

• Yes, Binance reports to the tax agency. Its Spanish entity, registered with the Bank of Spain as a crypto service provider, files form 172 (balances at 31 December) and form 173 (transactions during the year). It has done so since the 2023 tax year.
• Binance no longer operates in Spain. It withdrew its MiCA licence application in June 2026 and, since 1 July, Spanish users can no longer deposit or trade normally. They can still withdraw their funds.
• Withdrawing is not taxable; selling or converting is. Moving your crypto to your own wallet or to another exchange is not a sale. Selling it for euros or swapping it for another crypto creates a gain or loss that must be declared.

Since 2023, crypto service providers resident in Spain have two reporting obligations, filed every January for the previous year.

Form 172: your balances at 31 December

Form 172 reports the crypto the provider holds for each customer at year end: who the holder is, which crypto they hold, how many units and their value.

Form 173: your transactions during the year

Form 173 covers transactions: purchases, sales, crypto-to-crypto swaps and transfers, with their dates and amounts. With it, the AEAT can check whether what you declare matches what you did.

The first form 173 was filed in January 2024 and included transactions made from 25 April 2023, when the regulation that governs it came into force. So if you traded on Binance in 2023, 2024 or 2025, the safest assumption is that the tax agency has that detail.

And from 2026: DAC8

Since 1 January 2026 the DAC8 directive applies. It requires crypto-asset service providers serving EU residents to report their transactions to the tax authorities, which exchange the data between countries. Even though Binance no longer operates in Spain, you should not count on your 2026 transactions going unnoticed.

As outlets such as Bloomberg Línea have reported, in June 2026 Binance withdrew the MiCA licence application it had filed with the Greek regulator. Without that licence, since 1 July 2026 it cannot provide regulated services to customers in Spain or anywhere else in the EU.

In practice, Spanish users cannot open new accounts, deposit or trade normally, and Binance has asked them to move their funds. Withdrawals are still available, both in crypto and in euros.

For your tax return, the rules do not change, but the timing does:

• Your 2025 transactions go on the return filed in 2026, as usual.
• Your 2026 return, filed in 2027, will include what you did on Binance until July and whatever you sell or convert on your way out.
• If you close the account, download your full history first. Without it you will not be able to prove the cost basis of your crypto when you sell it on another platform.

The key is to tell moving apart from selling:

The most common mistake happens at the receiving exchange. When your crypto arrives at Coinbase, Kraken or Bit2Me, that platform does not know what you paid for it. If software such as Koinly or CoinTracking does not match the Binance withdrawal with the deposit at the destination, it may treat the transfer as a sale or leave the units without a cost basis. The result is an inflated gain that never existed, or a figure you will not be able to explain if the tax agency asks.

Download your full history

You need the complete statements: spot trades, conversions, deposits, withdrawals, Earn and staking. We explain it step by step in our guide to exporting your Binance history. Do it as soon as possible, while you still have access to the account.

Calculate every sale and swap with FIFO

The Spanish tax agency applies FIFO: the first units of a crypto you bought are the first ones considered sold. The gain or loss is the difference between the sale value and the acquisition cost of those units, fees included.

Match withdrawals with deposits at the destination

Every Binance withdrawal should have a matching deposit in your wallet or new exchange. If they are not matched, the figures on your return will not agree with what the tax agency receives through form 173.

Put it on your tax return

Gains and losses from selling or swapping crypto go to the savings income base, in the specific virtual currency section. Staking and Earn rewards are declared as income from movable capital. You will find the details on our page on how to declare crypto in Spain.

Form 721 reports crypto held in custody abroad when it exceeds €50,000 at 31 December. While you used Binance's Spanish entity, which already reported your balances on form 172, those balances were not treated as held abroad.

What you should check now is where your crypto is at 31 December 2026. If you have moved it to a foreign platform and the total exceeds €50,000, you may have to file form 721 between January and March 2027. If it is in your own wallet, the treatment is different: we explain it on the form 721 page.

If you have tax years that were not declared or were declared incorrectly, you can still correct them yourself. As long as no request from the tax agency has arrived, regularising costs a surcharge that starts at 1% and rises one point for each month of delay, rather than a penalty. Once the AEAT has cross-checked form 173 data against your return, the room for manoeuvre shrinks.

If you have already received a letter from the tax agency about your Binance trades, the deadline is what matters. We explain what to do on our page about a tax agency request about crypto.

Does Binance send me a tax report for my return?

Binance lets you download statements and transaction reports, but it does not calculate your gains with the FIFO method used by the Spanish tax agency, nor does it account for what you did on other platforms. It is the starting point, not the figure you declare.

Does the tax agency know how much I made on Binance?

It knows which transactions you made and what balances you held at 31 December. With that it can judge whether your figures are consistent, but you calculate the gain or loss on your return. That is why it is so important to be able to prove the cost basis of every sale.

Is moving my crypto from Binance to my own wallet taxable?

No. It is a transfer between your own accounts. What is taxable is selling or swapping one crypto for another. Do keep the withdrawal record, though, so you can show the units are the same ones you bought on Binance.

We reconcile your Binance history with the rest of your platforms, match every withdrawal with its deposit and calculate your gains with FIFO, with a trail behind every figure in case the tax agency asks. Take it to your adviser or let us file your return. See our pricing or tell us about your case on our crypto tax report page.