Spain’s Partido Popular (PP) to Establish Blockchain Regulations On Cryptocurrencies

Teodoro García Egea, the secretary general of Partido Popular (PP) has announced that he is going to present a law in Congress in the coming days to regulate cryptos and the technology behind them, blockchain.

Egea made this statement during the presentation of the ISDE Blockchain and Law research center at the Higher Institute of Law and Economics of Madrid, where he defended the importance of regulating the use of cryptocurrencies to “give security to the investor” and so that ” anyone who wants to introduce a cryptocurrency “can do it. He emphasized that this well-regulated technology would even allow “finance infrastructures.” He even listed advantages of digital currencies versus paper money like the one currently used: a facility for tracking each euro and the “great” difficulty “to” hack “the digital balance of any user,” without the consensus of all the nodes of ‘blockchain' “.

PP plans to introduce other measures such as facilitating “tax incentives to develop ‘blockchain'” in companies, the creation of a National Council of cryptocurrencies and the training of users in this technology.

A couple of days back BitcoinExchangeGuide had reported that Malta, alongside six southern EU countries announced an agreement to help promote the use and benefits of distributed ledger technology (DLT). The other countries which include Cyprus, Italy, France, Spain, Portugal, and Greece made this known in a joint statement on the cooperation between all countries to encourage the adoption of the technology.

By signing this agreement on the distributed ledger technology, the countries can present a united front when seeking the expansion of their digital agendas. This united front will essentially make them leading proponents of the tech in Europe.