Cryptocurrency Staking and its Taxation in the IRPF
Staking—locking cryptocurrencies to participate in transaction validation and receive rewards—is one of the most popular ways to generate yield in the crypto ecosystem. But how does the AEAT (Spanish Tax Agency) view it?
Tax Classification of Staking
According to the AEAT and the most recent binding rulings, staking rewards are taxed as income from movable capital (rendimientos del capital mobiliario) within the Savings Tax Base (Article 25 LIRPF).
This is key because:
- They are not taxed as capital gains (they cannot be offset against capital losses from the transfer of other assets).
- They are subject to withholding tax if the payer is located in Spain (in practice, foreign exchanges do not apply withholdings).
- They are declared in the fiscal year in which they are received, not when they are sold.
Timing of Accrual
Rewards are integrated into the IRPF at the moment they are credited to your account, at the market value of the asset at that specific time.
Example:
- You receive 0.05 ETH from staking on March 15 when ETH is trading at €3,200.
- Yield to declare: 0.05 × 3,200 = €160
- This amount is recorded as the acquisition cost of those 0.05 ETH for future sales.
The Double Taxable Event
It is important to keep in mind that staking generates two different taxable events:
- Upon receiving the reward: Income from movable capital (value in EUR at that moment).
- Upon selling the reward: Capital gain or loss (sale price minus the cost recorded in step 1).
If you sell the 0.05 ETH six months later at €3,800:
- Sale value: 0.05 × 3,800 = €190
- Cost basis: €160
- Additional capital gain: €30
Liquid Staking (stETH, rETH…)
Liquid staking—where you receive a derivative token like stETH instead of ETH directly—has the same treatment: the taxable event arises at the moment the yield is credited (which may be implicit in the revaluation of the derivative token).
The AEAT has not yet published a specific binding ruling on liquid staking, which creates some uncertainty. The conservative stance is to treat the token's appreciation differential as periodic income.
Staking on Exchanges vs. Native Staking
| Type | Intermediary | IRPF Treatment |
|---|---|---|
| Exchange (Binance Earn, Coinbase) | Exchange | Income from movable capital |
| Own validator (Ethereum, Cosmos…) | None | Income from movable capital |
| Liquidity Pools (DeFi) | Protocol | Income from movable capital |
In all cases, the treatment is the same, regardless of whether an intermediary is involved.
Where to Declare in the IRPF
Staking yields are declared in Box 0029 (Income from movable capital — other yields). You must break down the gross amount and its origin.
Conclusion
Staking generates reportable income at the moment of receipt. Keeping a daily record of rewards, including the date and EUR value at that time, is essential for a correct tax return. Crypto tax platforms can automate this calculation by importing the reward history directly from your exchange.