CoinTracking, Blockpit and Koinly: none generates Model 720 for Spain
Model 720 (declaration of assets abroad) is required if you hold >€50,000 in crypto on foreign exchanges. None of the major global tools generate it: not Koinly, CoinTracking, Blockpit, CoinLedger, Divly, TaxBit, or ZenLedger.
Penalties for non-compliance can be severe (historically up to 150% of undeclared value, though reduced by Constitutional Court in 2022).
kointax assists with Model 720 generation: calculates total portfolio value at foreign exchanges on Dec 31, alerts when you exceed the €50,000 threshold.