The Spanish left-wing party proposes a 47% high tax on cryptocurrencies

According to Cointelegraph, Spain's left-wing party Sumar recently proposed amendments to three major tax laws, aiming to increase the cryptocurrency capital gains tax rate from the current 30% to 47%, and plans to classify all digital assets as seizable assets.

The proposal also calls for the National Securities Market Commission (CNMV) to create a visual "risk traffic light" system for cryptocurrencies. Critics have labeled this move as a "useless attack on Bitcoin," warning that it could lead to cryptocurrency holders fleeing Spain.