- 30 January 2022
- Posted by: Cryptovalues
- Category: Cryptovalues News, World News
Spain is the top country in Europe for knowledge of the cryptocurrency market, with 18% of Spaniards having notions of digital currencies.
Awareness of the growth of the crypto sector is leading the Spanish legislature to regulate the industry.
In June, guidelines were established that require “all individuals and institutions that provide virtual currency exchange services,” such as the purchase and sale of cryptocurrencies and custody services, to be registered in a special registry.
With the stated aim of combating money laundering, reference is made not only to companies with registered offices in Spain, but more generically to “those providing services in Iberian territory,” with the obligation to adapt their established procedures to the specific dynamics of digital assets.
In November, Spain’s governing party considered harnessing the potential of blockchain to streamline the mortgage and insurance systems, lowering the costs of clearing and the time required for transactions.
In this climate of complete openness to the crypto sector, which make Spain a sort of crypto-hub, well aware of the potential that can be exploited, the news that opens 2022 is really important and that is that
Residents in Spain will have access to an additional 100 ATMs through which they can buy Bitcoin, bringing the number of ATMs in the country that offer Bitcoin to a total of 268.
Recall that worldwide, there are currently a total of 33,896 Bitcoin ATMs.
This additional opportunity is due to a partnership between Bitnovo, a Bitcoin payment company from Spain and Eurocoin, an electronic components company in Europe.
With this new endowment of ATMs, Spain would be in first place in terms of Bitcoin ATMs in Europe and will be in third place, after the United States and Canada, worldwide.
To conclude, confirming the awareness of the phenomenon and the will to regulate, the Comisión Nacional del Mercado de Valores (CNMV), the Spanish financial regulatory body, assimilated to our Consob, has issued a circular that will be in force from February 17 that will regulate the advertising of investments in crypto and according to which ads related to cryptocurrencies will have to be “clear, balanced and fair”, as well as provide sufficient information on the risks associated with such investments.