Regulation on Blockchain, Cryptocurrency To Be Introduced by Spanish Ruling Party

Spain's ruling party, Partido Popular (PP), will present a draft bill on cryptocurrencies and blockade regulations in April, the local daily La Vanguardia announced on December 10th.

The publication announced that PP secretary Teodoro Garcia Egea announced a decision at a solemn opening on December 10 in Madrid organised by ISDE Blockchain and the Law Research Center. The main reason for the development of regulations should offer a certain certainty that "everyone who wants" must present their work, the party secretary said.

Garcia Aegeas also talked about the possibility of tax cuts to launch start blocks and companies using decentralised technology. He also discovered that the government could create a National Council on cryptic currencies and promote education devoted to basic technology.

All these measures are in place to make Spain become the leader in the block sector instead of following other countries, Garcia Aegean added.

As Cointelegraph pointed out early October, Spain actively implements blockchain in public infrastructure in its cities, as well as in the private sector.

For example, one of the largest land port in the country, located in Valencia, uses Blockchain to improve logistics and connect brokers in the shipping sector. At the same time, the main Spanish telecommunications operator, Telefónica, will use the IBM Blockchain platform to improve the international traffic management of mobile phone calls.

At the same time, the Spanish government sought ways to prevent tax evasion from crashing revenues. Last month, Cointelegraph announced that the Spanish Ministry of Finance was planning to investigate 15,000 taxpayers who had carried out cryptocurrency transactions last year.


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