According to CoinMeta, and as reported by CriptoNoticias, the Spanish National Tax Administration (AEAT) updated its frequently asked questions (FAQs) regarding the tax form for reporting overseas crypto asset information (Modelo 721) on September 28th. It was clarified that self-hosted cryptocurrencies that are under the direct and full control of their holders do not fall within the scope of this reporting requirement. According to the regulations, to be subject to the reporting requirements of Modelo 721, two core conditions must be met: first, the private keys must be entrusted to a third-party entity for custody; second, the custodian entity must not be a tax resident of Spain and must not have a permanent establishment in the country. Additionally, only when the total value of crypto assets held overseas exceeds 50,000 euros as of December 31st of each year, is the relevant tax resident obligated to submit this informational report between January 1st and March 31st of the following year.