Spain seeks to propose crypto friendly legislation
People Party of Spanish PM Mariano Rajoy asserts to be preparing for the crypto friendly legislation with the main objective to persuade blockchain companies in particular by comprising tax breaks. Despite the fact that numerous European countries seek strict regulations in cryptocurrency. Spain looks forward to pursuing Switzerland’s lead and is heading to propose crypto friendly legislation.
As per Bloomberg statement, the lawmaker named Teodoro Garcia Egea considers that it is in the interest of leading European country to greet blockchain companies. However, this innovative technology could potentially coerce innovation in health, finance as well as education. He clarifies that ‘the level of digitalization for companies will be the key and we expect you get the legislation ready this year.’
PM Mariano Rajoy’s People’s party plans to call blockchain experts to the country to be a witness in parliament. They are much concerned in studying countries before now ahead of crypto curve same as Switzerland, perhaps the blockchain capital of the world. In addition, Garcia Egea ‘s main objective is to make Spain as a safe as well as a friendly place to invest in cryptocurrency investments which would be below a convinced figure to go unreported. Whereas still offering an effectual regulatory atmosphere. As per the wording of Garcia Egea ‘we want to create up Europe’s safest support to invest in ICOs.’
Numerous European neighbors have their own views regarding this new innovation. As Yves Mersch, European Central Bank board member clarifies that ‘cryptocurrency are not money .and neither will they be for the foreseeable future.’
Bruno le Maire, French Finance Minister and Peter Altmaier Interim German Finance Minister together record to claim that crypto currencies threaten long-term financial steadiness even as advising fellow G20 finance ministers to break down on increasing market.
Theresa May, British Prime Minister also expressed her viewpoint regarding the criminal usage of crypto currency. She stated that she is observing very seriously at crypto currency ‘for the reason that they are utilized mainly by criminals.’
Spain’s interest in blockchain is somewhat different in comparison to all its European neighbors. As it appears to be more interested in the race to become a blockchain capital and ants to be in the lineup of Switzerland as well as the US states Arizona, Wyoming along with Tennessee. Spain did not want to one of those countries who opposed to being a country which discourages innovations. Thus we will see this European country very soon to be ahead of the curve on the continent.
Image source: shutterstock