Hedera Hashgraph (HBAR): Tax Guide for Spanish Investors

Hedera Hashgraph is not a traditional blockchain: it uses a technology called hashgraph (a DAG = directed acyclic graph) aimed at achieving higher speed, lower costs, and greater energy efficiency compared to Ethereum or Bitcoin. It is governed by the Hedera Governing Council, which includes companies like Google, IBM, Boeing, LG, and Deutsche Telekom.

The Hedera Network: What It Offers

Hedera Services:

• HBAR Token Service (HTS): issuance of native tokens (fungible and NFTs) on the Hedera network.
• Hedera Consensus Service (HCS): message logging with consensus on the network.
• Hedera Smart Contract Service: EVM-compatible smart contracts.
• Hedera File Service (HFS): distributed file storage.

All services are paid for in HBAR, the network's native token.

HBAR: The Native Token

HBAR is used for:

• Paying transaction fees on the network.
• Participating in staking to secure the network.
• Voting on certain governance proposals.

HBAR Staking

Hedera allows HBAR staking to contribute to network security and potentially earn rewards:

Native Staking

• HBAR staked on a consensus node (the 26 nodes of the Governing Council) earns proportional rewards.
• Staking is "proxy staking": there is no slashing risk (you do not operate the node directly).
• You can unstake at any time (no lock-up period, unlike Ethereum).

Taxation of HBAR staking:

• Rewards received in HBAR → classified as investment income.
• Valued in EUR at the time of receipt.
• If rewards are distributed every 24 hours → there is a daily taxable event.

Staking via DeFi on Hedera

There are some DeFi applications on Hedera (Stader, HeliSwap):

• HBAR staking with liquid staking tokens → similar to Lido but on Hedera.
• The transfer of HBAR → liquid token is possibly a taxable event.

Taxation of Network Usage Fees

Hedera charges very low fees (typically $0.0001 per transaction) in HBAR:

• Using HBAR to pay fees = transfer of HBAR at market price.
• The difference between the acquisition cost of the HBAR used for fees and its value at the time of payment = minimal capital gain/loss.
• For high transaction volumes, the tax impact can accumulate.

HTS Tokens: Issuance and Use

Companies issuing tokens on Hedera via HTS:

• Issuing your own tokens is not a taxable event per se (you create an asset at no cost).
• Selling those tokens to third parties → income (economic activity or capital gain depending on the nature).

For HTS token buyers:

• Same as buying any token → acquisition cost, and then capital gain/loss upon sale.

NFTs on Hedera (via HTS)

HTS enables the creation of native NFTs:

• Lower cost than on Ethereum.
• Same taxation: purchase = acquisition, sale = capital gain/loss.
• Check if the platform uses royalties: similar to the analysis of Ethereum NFTs.

The Governing Council and Business Vision

Hedera's governance is in the hands of corporations, not HBAR holders. This means:

• HBAR holders do not vote directly on protocol decisions.
• HBAR has more of a "utility" nature (paying fees, staking) than "governance."
• This distinction may affect how HBAR is classified under MiCA (utility token without voting rights).

Tax Comparison: HBAR vs. ETH

Updated: April 2026 | Fiscal Year: 2025