Spanish banks required to report 3-year digital currency plans
Banco de España wants to assess the influence that digitalization has on financial services. Digital currency plans by Spanish banks must now be reported according to sources at the Banco de España, who claimed that the central bank wants to examine the effect that digitalization is having on financial services.The Bank of Spain has been quiet for years on the subject of digital currencies. However, this year, it's stepping up and asserting itself. After establishing a digital currency service providers' registry, it's moving on to the banks.According to a report from Spain's El País, the....
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Spanish police have arrested 20 individuals in connection with a pyramid scheme that used a fake digital currency called the unete to attract unwitting investors. The Spanish National Police Corp announced the arrests on 16th July, which took place in Madrid and other parts of the country. Police estimate that the scheme resulted in as much as €50m in losses, ensnaring roughly 50,000 victims worldwide - with 6,000 in Spain alone. Spanish police seized over €5m and approximately $22m from related bank accounts. Two luxury cars and 18 computers were also taken into custody. According to....
CriptoNoticias, the Spanish cryptocurrency news website has announced the launch of CriptoForo forum for the Spanish-speaking population. The Spanish speaking cryptocurrency community, concentrated in the Latin America and Mexican regions now have a new forum where they can interact with each other in their native language. CriptoForo, the brand new cryptocurrency forum is the pet project of one of the leading Spanish digital currency news portal, CriptoNoticias. CriptoNoticias recently announced the launch of CriptoForo as a part of its initiative to provide a platform where all Bitcoin,....
As part of regulations that are set to become effective in mid-February, crypto-asset investment promoters will be required to inform the Spanish securities watchdog of the contents of any ad that targets over 100,000 people.
10-Day Advance Notice Rule
The Spanish government has tasked the country’s securities watchdog with authorizing advertisements that promote cryptocurrencies, a report has said. Also, as part of the new measures, crypto-asset investment promoters will be required to notify the Comisión Nacional del Mercado de Valores (CNMV) of any promotional....
The report is a major step towards pushing central bank digital currencies forward. With Central Bank Digital Currencies a point of focus across the globe, a number of countries' banking authorities have jointly produced a document discussing the currency type at length. The Bank for International Settlements told Cointelgraph in a statement that a group of seven central banks and the BIS had collaborated on the report, "identifying the foundational principles necessary for any publicly available CBDCs to help central banks meet their public policy objectives." The BIS is a global....
Ecuador's e-money initiative, which kicked off earlier this year after the country outlawed bitcoin, is about to see wider institutional involvement following a government directive. The country's banks were ordered late last month to adopt the payment system within the next year, according to a report by Pan-Am Post's Belén Marty. The pace at which the banks are required to add support for the initiative, which is a digital representation of the US dollar - Ecuador's official currency - depends on their size. Ecuadorean banks that possess $1b or more in assets have 120 days to integrate,....