Spanish ruling party will introduce cryptocurrency regulation in the coming days

12 Dec, 2018
by David Borman
Regulation
Spanish ruling party will introduce cryptocurrency regulation in the coming days

It has just been reported by Cointelegraph that the ruling party in Spain, Partido Popular (PP), will be introducing a draft bill to regulate both blockchain and cryptocurrencies.

The party’s secretary, Teodoro Garcia Egea, announced this development at the opening ceremony of ISDE Blockchain and Law research center in Madrid. It was stated that the reasoning for this was to allow for a legal route for "anyone" to introduce new coins and to give some certainty to investors in those coins.

Other measures that were alluded to but not guaranteed included tax cuts for blockchain businesses and a possible national council on cryptocurrencies. These developments are however only speculative at this point.

Spain is hoping to become a leader in blockchain technology and if the regulations proposed are supportive of growth, that just may become a reality. Asusual, stay right here with Chepicap for all developments regarding regulation worldwide!

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