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Spain is rolling out some of Europe’s strictest cash controls, requiring citizens to report withdrawals over €3,000 or face fines up to €150,000. The new rules, part of Royal Decree 253/2025, mandate detailed disclosures to tax authorities, raising concerns over financial privacy. Critics warn the measures extend beyond crime-fighting, turning ordinary citizens into suspects.
- Spain mandates 24-hour advance reporting for cash withdrawals over €3,000, with fines up to €150,000 for noncompliance.
- Banks must block unreported withdrawals and flag suspicious transactions, including frequent smaller withdrawals below the threshold.
- The EU is pushing for broader cash controls, while Bitcoin gains traction as a censorship-resistant alternative to state-monitored banking.
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