Spain carefully moves forward with blockchain implementation

Spain
Mark Knowles
Written by Mark Knowles

Following Spain’s congress unanimous approval for favourable blockchain and cryptocurrency regulations, the country is now taking steps toward implementing the new rules.

According to a last week’s announcement, the local authorities in Barcelona intend to set up a city sector specialized in blockchain to nurture the technology’s growth in the digital space. Earlier on, first blockchain based credits were issued by the Spanish Banco Bilbao Vizcaya Argentaria (BBVA)

Nevertheless, security measures are kept in place to ensure the new tech compliance with existing rules, as emphasized in the draft of the new regulations, including an emphasis on correct taxation of cryptocurrency transactions.

About the author

Mark Knowles

Mark Knowles

Coinlaw Multi-Jurisdiction Blockchain News
Mark Knowles is the Executive Editor of coinlaw.io
With more than a decade of experience as a journalist and editor, Mark has now turned his focus to the blockchain and cryptocurrency revolution that is currently reshaping the global economy. As Executive Editor at Coinlaw Mark is working to create a website that is a hub for the international crypto community to find the latest legal news, legislative changes and expert opinion from across the industry. Contact him at [email protected] or through mobile on +66 (0) 98 705 2716.

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