Last Thanksgiving, Bitcoin was in the middle of a bull run that would result in a record high of $19,511 just before Christmas. Now, Bitcoin is worth just $3,752.
The Spanish government is searching for different ways to regulate virtual currencies and tax users. According to some reports, the Spanish government has approved a draft law that would obligate crypto holders to identify themselves and inform their exact holdings.
Cryptocurrencies expanded all over the world. They allow individuals and companies to send and receive payments in a fast and easy way. However, they have also been used by criminals in order to launder many and avoid paying taxes. This is why the Cabinet Council decided to fight against tax evasion.