Crypto.com Visa and CRO: Complete Tax Guide for Spain

The Crypto.com Visa card has been one of the most popular crypto cards in Europe. It requires staking CRO (Crypto.com’s native token) for 6 months to access benefits, including 1-8% cashback in CRO and a series of free subscriptions. This complex structure has multiple tax implications.

How CRO Staking for the Visa Works

To obtain the Crypto.com Visa card:

1. Purchase CRO in the Crypto.com app.
2. Lock (stake) CRO for 6 months in the card staking contract.
3. Depending on the amount of CRO locked, you obtain a card tier (Midnight Blue, Ruby, Jade, Indigo, etc.).
4. Staking entitles you to:
   • Cashback in CRO (1%-8% depending on the tier).
   • Reimbursement for Netflix, Spotify, Amazon Prime (depending on the tier).
   • Airport VIP lounge access (LoungeKey).
   • Additional interest in Crypto.com Earn.

Taxation of CRO Locking (Staking) for the Card

CRO Staking for the Visa is NOT Validation Staking

Staking for the Crypto.com Visa card is a collateral deposit to maintain card privileges, NOT network validation staking.

• The locked CRO remains yours → no transfer or taxable event under IRPF.
• The locked CRO does not generate automatic "staking interest" (it is merely a card requirement).
• If the CRO decreases in value during the lock-up period → the unrealized loss is not declared (no transfer).

Unlocking CRO After 6 Months

• The CRO is returned in full → still no transfer.
• If you decide to sell the CRO upon unlocking → then there is a capital gain or loss: sale price - original acquisition cost.

Taxation of Cashback in CRO

The cashback in CRO you receive for each purchase with the card (e.g., 2% in CRO):

Is it Business Income or Investment Income?

• Cashback is a reward for using a credit/debit card.
• By analogy with conventional cashback cards (Amex Platinum, etc.), the DGT has ruled in several consultations that conventional cashback in EUR is not taxable if it is merely a reduction in the purchase price.
• Issue with CRO: cashback is received in an asset with its own fluctuating value.
• Likely AEAT Interpretation: cashback in CRO is investment income at the market value of CRO at the time of crediting:
  • Value of CRO received → savings base.
  • Acquisition cost of the CRO received = EUR value at the time of receipt.
  • If you sell that CRO later at a higher price → additional capital gain.

Reimbursement for Netflix, Spotify, Amazon Prime

Tax Treatment

The reimbursement of subscriptions (Netflix, etc.) in CRO:

• Each month, Crypto.com reimburses you in CRO for the subscription cost (e.g., Netflix €13.99/month → you receive CRO equivalent to €13.99).
• Similar treatment to cashback: investment income at the value upon receipt.
• The argument for a price reduction is weaker here because it is the platform, not the merchant, that pays the price.

CRO Earn: Interest in the App

Crypto.com also offers "Earn" (yield products):

• You deposit CRO, BTC, ETH, or other assets in the app for a fixed period.
• You receive interest in the same cryptocurrency.
• Tax treatment: investment income (RCM) for the interest received.
• Each interest payment → RCM at the market value in EUR at the time of payment.

CRO Staking on the Blockchain (CRO Chain / Cronos)

Cronos (CRO) has its own blockchain with validators:

• If you stake CRO on the Cronos blockchain with a validator → you generate validation rewards.
• Very different from Visa staking: here, there IS network validation → staking rewards → RCM savings base.
• Key difference: validation staking vs. deposit locking to access product benefits.

Cronos (CRO) DeFi: DeFi and Its Tax Implications

Cronos is an EVM-compatible chain with its own DeFi (VVS Finance, MM Finance, Fulcrum):

• Swapping CRO for other tokens → capital gain or loss.
• Providing liquidity → same as any AMM.
• VVS rewards in CRO → investment income.

Crypto.com Tax Summary

Updated: April 2026 | Tax Year: 2025