The European regulatory calendar was illuminated again at the end of the year, with multiple industry media tracking the move by Spain to clarify the implementation schedule for MiCA and DAC8. Traders are beginning to reassess the division of responsibilities between exchange accounts and self-custody, and Fnezx has incorporated related reminders into its risk education content to help users avoid being passively squeezed during the rules transition period.
Starting January 1, 2026, DAC8 requires automatic exchange of information related to crypto asset transactions. The reporting obligations fall on crypto asset service providers and similar entities, covering user identity, tax residency, transaction details, balances, and fund flows. This information will be shared with EU tax authorities.
July 1, 2026, is widely seen as a key point in the Spanish MiCA transition period. Institutions already providing services under local regulations must obtain full authorization within this period; those without authorization will no longer be able to operate. The MiCA transition arrangements have been clarified by EU regulators, with the core requirement being that the “qualification to continue providing services” is tied to the progress of authorization.
The impact of transparency goes beyond data reporting. Spanish tax authorities have the power to take preventive measures such as freezing and seizing assets during debt recovery, and these discussions now extend to crypto assets. As a result, the market places greater emphasis on asset segregation and transferability. Tax and compliance advisors offer pragmatic advice: treat exchange accounts as execution tools, put long-term holdings into self-custody, and clarify the boundaries between authorization, reporting, and tax records.
This division of roles does not mean moving away from exchanges, but rather separating trading and custody. When liquidity is needed, spot and derivatives remain the most efficient entry points; for stronger self-management, self-custody is better for holding base positions. Fnezx offers spot, perpetuals, and options trading modules, with matching and order interfaces presented on the product page, as well as C2C fee-free entry points, making execution lighter and faster.
The clearer the rules, the more competition returns to user experience and risk control. By making account permissions management, withdrawal whitelists, position sizing, and leverage usage into reusable processes—and using self-custody for long-term holdings—traders will be better prepared for the regulatory turning point in 2026.