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By the end of the year the regulations to regulate cryptocurrency platforms operating in Spain will come into force

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lupafilotaxia
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2 months agoSteemit2 min read

Beyond the approval of Bitcoin ETFs within the cryptocurrency market, progress continues in the world regarding the approval of regulations to regulate cryptocurrency platforms.

In that sense, “Next December 30, the regulations to regulate cryptocurrency platforms operating in Spain will come into force. This is a series of rules that will be applied in the country, based on what is established in the Regulation for the Cryptoassets Market (MiCA) approved in the European Union (EU)."

According to information disclosed by Glenda González for the portal Cripto Noticias, “compliance with the law starts with the requirement -for companies offering services with bitcoin- to register with the Bank of Spain (BDE). This is the body that, together with the National Securities Market Commission (CNMV), was appointed by the government to supervise the sector".

It is known that, “So far, some 105 cryptocurrency companies have complied with the requirements, obtaining authorization from the Bank of Spain to operate in the country. According to the data shown in the registry, 14 of them have registered so far in 2024. A figure that evidences a stable trend in the registry, considering that last year a total of 35 authorizations were granted. The largest number were delivered during 2022".

An interesting fact is that, “As Spain is part of the European market, inclusion in its registry opens the doors to operate throughout the region. Perhaps a point in favor of the Iberian country, despite the limitations that some companies believe will result from MiCA and which are evident with Tether's current difficulties in complying with the requirements of the law."

SOURCES CONSULTED

Criptonoticias. Spain equals El Salvador in the Bitcoin company registry. Link

OBSERVATION:

The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Criptonoticias

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