While other European countries seek stricter regulations on cryptocurrencies, Spain looks to follow Switzerland’s lead and charge ahead of the curve by proposing crypto-friendly legislation.
Spain on the Blockchain
Spanish Prime Minister Mariano Rajoy’s People’s Party is ready to throw their full weight behind blockchain technology. The conservative party claims to be preparing crypto-friendly legislation with aims to entice blockchain companies, particularly by including tax breaks.
According to Bloomberg, Teodoro Garcia Egea — the lawmaker preparing the bill — believes it is in the interest of the major European country to welcome blockchain companies, as the new technology could potentially drive innovation in finance, health, and education. Garcia Egea explained:
The level of the digitalization for companies will be key. We hope to get the legislation ready this year.
The People’s Party plans to invite blockchain experts to the country to testify in parliament. They are also interested in studying countries already ahead of the crypto curve, such as Switzerland — arguably the blockchain capital of the world.
Additionally, Garcia Egea aims to make Spain a safe and friendly place to invest in cryptocurrencies by proposing the possibility of allowing cryptocurrency investments …
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