CNMV Securities Regulator in Spain Adds 23 Crypto and Forex Exchanges to Warning List

The securities commission in Spain has added 23 forex and crypto exchanges to a warning list over claims that they are not authorized to work in the nation.

This occurred on January 14, 2019. Blonde Bear OÜ, also called Black Parrot Ltd, is amongst those added to the list. The company claims that it is a crypto and forex exchange. However, it apparently works is Spain without any licensing.

Further Details

Black Parrot Ltd runs the tradex1.com and trade111.com domains. The regulators in Poland have also flagged it for working there without proper licensing.

Another firm added to the list is Bron Fox Ltd, which is also called Dax300 for the same reason. The company trades in contracts for difference, tracking crypto, forex, and commodities.

Spain and the DLT In Europe

This latest move is not a sign that Spain is against crypto. In fact, the nation was amongst the seven nations in the EU that signed a declaration to promoted Distributed Ledger Technology within the U region. Besides that, ACCIONA Energia, a Spanish renewable energy firm said that it would use the blockchain to trace electricity generation in December last year.

ACCIONA Energía is a company that produces clean energy for over six million homes. The company is one of the biggest developers of clean energy. Thus far, it has managed to develop and install over 9000 MW of power.

ACCIONA decided to use the blockchain after agreeing with FlexiDAO, a startup that focuses on digital energy services. This move will make it possible to check the provenance of their power bills.

The EU DLT Declaration

The declaration was made by seven members of the EU from southern Europe. The declaration will aim to promote the use of the DLT in the EU. This declaration was initiated by Malta but six other nations decided to sign on.

The region is significant not for only being in the EU but for making up a huge chunk of the global economy. Greece, Spin, Cyprus, Portugal, France, Italy, and Malta signed this declaration. This took place during a meeting of transport ministers in the EU.

According to the seven nations, the DLT could become a game changer for the EU economies. In the declaration, mobility, education, shipping, customs, land registry, healthcare, and company registry, could all benefit from the technology. Besides that, they noted that the technology could make it possible to offer better privacy protection for the users. This could help to ease the bureaucratic process.

However, not everyone is so positive about the blockchain. For instance, a member of the executive board of the European Central Bank said that Bitcoin was the evil spawn of the financial crisis in 2018. However, it is not all bad news, various banking groups have joined the Association for Trusted Blockchain Applications (IATBA). This association will help to develop standards and infrastructure for the blockchain. It is set to launch in Q1 2019.

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