Blockchain Legislation By Spain

The responsible lawmaker for the new law is Teodoro Garcia Egea. He believes, that European countries can take large profits from supporting Blockchain technology. He thinks, that the new technology has possibility to boost the innovation in health, education and finance area. He said:

“The level of the digitalization for companies will be key. We hope to get the legislation ready this year.”

The People’s Party looks into inviting Blockchain experts to the country to testify in parliament. The party is also planning to study the approaches of the nations that are already tapped into the Blockchain introduction.

Garcia Egea is also aiming to make Spain a secure area for cryptocurrency investments. He is going to enable the possibility for certain cryptocurrency investments below a particular figure. He strives at the same time to provide a regulatory support.

The rising interest in Blockchain technology makes the country one of the first European countries providing the green light for Blockchain.

The Finance Minister of France Bruno le Maire and interim German Finance Minister Peter Altmaier said earlier this month, that global cryptocurrency regulation is necessary. They think, that cryptocurrencies are a threat for long-term financial stability. During an upcoming G20 meeting in Argentina the ministers plan to discuss the possibility of global cryptocurrency crackdown.

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