Buying and Selling Real Estate with Cryptocurrencies: Key Points of a Pioneering Transaction in Spain

The use of cryptocurrencies as a means of payment in real estate transactions is beginning to gain traction in Spain. An article published in El Confidencial analyzes the transaction carried out by the developer Jamsa to purchase a parking space valued at 40,000 euros using cryptoassets, in a deal whose legal structuring was led by Miguel Lobón, a partner in the commercial law practice.

The expert emphasizes that one of the main challenges of this type of transaction is ensuring legal certainty and regulatory compliance. In this regard, he notes that “cryptocurrencies have historically been somewhat demonized or linked to shady markets. However, once they are recognized as a valid payment method, the next step is to establish transparency and provide legal certainty.” He also underscores the importance of working with “a reputable partner regulated by the Bank of Spain,” which ensures compliance with anti-money laundering requirements.

On the other hand, Miguel Lobón explains that one of the key aspects of the transaction was managing the volatility inherent in cryptoassets. As he states, “the key to this transaction is that the buyer and seller share the risk of volatility,” while the price of the property in euros remains fixed at all times. Finally, he emphasizes that this transaction demonstrates that “using cryptoassets is not synonymous with evading the tax authorities or attempting to avoid taxation,” since the transaction was structured to ensure compliance with regulations, anti-money laundering controls, and the corresponding tax obligations.