Spain Implements Europe's Strictest Cash Control: Withdrawals Over 3000 Euros Require 24-Hour Advance Notice

Spain introduces Europe's strictest cash control: Withdrawals over 3,000 euros require 24-hour advance declaration. According to the latest Royal Decree issued by Spain, starting from 2025: Single withdrawals exceeding 3,000 euros must be declared to the tax authorities 24 hours in advance, specifying the purpose and recipient. Banks have the right to intercept transactions with incomplete documentation and report suspicious operations. Violations can result in fines up to 150,000 euros (minimum 600 euros). ■ Controversy: The government claims the measure aims to combat financial crime, but it has been criticized as "excessive surveillance." The CEO of Citizen X Company warns: "Withdrawal approval equals deprivation of property rights." Bitcoin supporters denounce the policy as "authoritarianism." ■ European trend: Italy and France have already implemented similar restrictions, and the EU is promoting cash control across the region. Analysts point out that this move may boost the demand for decentralized assets like Bitcoin.