Crypto trading signals on Telegram: taxation in Spain

Crypto signal channels on Telegram have proliferated enormously. Some operate for free, others charge monthly subscriptions of €20 to €500 (or in cryptocurrencies). For providers of these signals in Spain, there are a series of clear tax obligations.

What are trading signals?

Trading signals are buy/sell recommendations with:

• The trading pair (e.g.: BTC/USDT).
• The entry price.
• Take profit and stop loss levels.
• The technical or fundamental analysis that supports it.

The channel charges a monthly or annual subscription for access to the content.

Is it economic activity?

Yes, in almost all cases. For economic activity to exist, the Tax Code requires:

1. Organization of material means (Telegram channel, analysis, trading tools).
2. On your own.
3. For profit.
4. To intervene in the services market.

A signals channel with paying subscribers meets all of these criteria.

Tax obligations if you are Spanish

Registration in the Treasury

• Form 036 or 037: registration in the Census of Entrepreneurs, Professionals and Retainers.
• Heading of the IAE (Economic Activities Tax): it can be classified as "Financial market intermediaries" or "Digital content publications" depending on the case.

Self-employed (Social Security)

If you are not exempt (less than €1,000/year of income), you must register for the Special Regime for Self-Employed Workers (RETA).

• Reduced quota for self-employed workers (flat rate) available the first year.
• The contribution base from 2023 is linked to the estimated net return.

IRPF

The income from the signal channel is income from economic activities:

• The net profit is calculated: income − deductible expenses.
• It is integrated into the general income tax base (scale from 19% to 47%).
• Unlike crypto GPOs (savings base), these incomes are taxed on the general base.

VAT

Digital subscription services are taxed at 21% VAT in Spain.

• If your clients are mainly from other EU countries and are not entrepreneurs → invoice with Spanish VAT.
• If your client is a company from another EU country with VAT → reverse charge.
• If your clients are from outside the EU (USA, etc.) → it may not be subject to Spanish VAT.

Important: if you charge in crypto, VAT also applies to the EUR value of the cryptocurrency received.

Deductible expenses of the signal channel

Collections in crypto: the double taxable event

If you charge in USDT or BTC for subscriptions:

1. VAT: on the EUR value of the crypto received.
2. IRPF: the income from the activity = EUR value of the crypto received.
3. Later: if you sell that crypto at a higher price → additional GPO (difference between cost = value at collection and sale price).

Payments from foreign subscribers in crypto

If a US subscriber pays in USDC:

• There is no double taxation agreement for VAT (VAT is different from personal income tax).
• If the service is digital and the client is a non-entrepreneur → OSS model for EU VAT (if there are European clients).
• For clients outside the EU: there is no obligation to charge Spanish VAT in general.

Module regime vs direct estimation

Trading signals activity hardly fits into modules (objective estimation). Simplified direct estimation almost certainly applies.

Mandatory invoice

You must issue an invoice to each subscriber for each period (monthly, annual):

• Amount in EUR (or with crypto equivalent to EUR).
• VAT broken down to 21%.
• Your tax information (name, NIF, address).
• The client's data if it is a company.

If subscribers are anonymous (they pay with crypto without giving personal data), it is more complex. Simplified invoice without recipient data is applied for sales to individuals.

Updated: April 2026 | Fiscal year: 2025