The obligation is clear: cryptocurrencies received in WorldCoin in 2024 must be taxed. Although the project failed, it generated a profit in the form of cryptocurrencies for all participants, and these must be included in this year's income tax return.
Paula Gámez, a partner in the tax department, comments on this tax obligation in Expansión (for subscribers only): “Airdrops received throughout 2024 by those who scanned their irises must be taxed as capital gains in the 2024 income tax return, which must be filed before June 30, 2025.”
The WorldCoin project recruited volunteers around the world, including Spain, to scan their irises and convert them into a unique digital identity verification code. The cryptocurrencies received as payment for participating do not correspond to an employment relationship, so, as our tax lawyer emphasizes, they must be taxed “in accordance with the criteria repeatedly stated by the General Tax Directorate for similar cases.”
If you would like further information, please do not hesitate to contact our office by calling 91.345.48.25 or sending an email to info@cecamagan.com
