New regulations in Spain spark heated discussions: Cash withdrawal supervision upgraded, user data privacy faces challenges.

Recently, news about a new cash withdrawal regulation in Spain has sparked heated discussions. The news claimed that Spaniards must apply for permission from the tax authorities in advance to withdraw more than 3000 euros in cash, otherwise they could face fines of up to 150,000 euros. However, upon verification, this information is false.

The message shows that the regulation is actually aimed at banks and fintech companies, rather than ordinary account holders. Banks and related institutions are required to report information such as cash deposits and withdrawals, loans, and account balances exceeding 3000 euros per month, while individual savers do not need to notify tax authorities in advance. Penalties mainly target financial institutions that fail to submit the necessary information, and individual clients are unaffected.

This rumor originated from a report on April 28, which was later reproduced by multiple media outlets. In reality, the Royal Decree 253/2025 amending the Spanish tax management regulations aims to enhance financial transparency and monitoring. Although it does not mandate that withdrawers notify in advance, it does indeed increase the obligations of banks to collect and report data.

Even without having to apply in advance, Spain's new regulations allow the tax authorities to monitor information about everyone making large transactions with cash or bank cards, as if being monitored in real time.
This has also raised concerns among some privacy advocates and Bitcoin users, who believe that such data collection could undermine individual privacy rights.

If we look at it more broadly, Spain's move is actually part of a wider anti-money laundering plan by the European Union, aimed at setting a cap on cash payments and strengthening transaction monitoring across the territory.

For savers in Spain and cryptocurrency users, everyone can still withdraw over 3000 euros normally, but may face some additional identity verification, without the need for declaration.

However, on the other hand, the regulation has indeed enhanced the appeal of anonymous assets such as Bitcoin and promoted the popularization of the "self-custody" concept.

In summary, although the new regulations regarding cash withdrawals have somewhat exaggerated and misled the public, this policy in Spain undoubtedly undermines the space for personal financial privacy.

What do you think of this new regulation in Spain? What impact do you think it will have on personal financial privacy?

#西班牙 # cash withdrawal #金融隐私 # cryptocurrency