Blockchain tax breaks and ICO regulations in the works in Spain

Blockchain Europe Regulations Spain Taxes

Teodoro García Egea, a lawmaker working with the People’s Party of Spain – the ruling party in the country –  has revealed that the latter is considering introducing tax breaks for firms utilizing blockchain technology. The new law might also introduce a minimum threshold for reporting crypto investments to the authorities.

García Egea, who is preparing a bill to that effect, said that the new law should be ready by year’s end. 

Furthermore, a series of tweets from the lawmaker points to possible ICO regulations also being in the works, with the goal of establishing Spain as the safe playgoers for ICOs.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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