Bank of Spain Criticizes El Salvador’s Foray Into Bitcoin
The Bank of Spain, the central bank of the country, criticized the adoption process El Salvador chose when declaring Bitcoin legal tender last month. In a report titled “The role of crypto assets as legal tender: the example of El Salvador,” the bank examines several pain points the country encountered while applying its bitcoin strategy, and raises concerns about how some actions have been taken with little transparency. Bank of Spain Scrutinizes El Salvador’s Bitcoin Bet The Bank of Spain issued a report scrutinizing and reflecting upon the entrance of El....
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The Bank of Spain has already included 17 virtual asset service providers in its own registry, in which cryptocurrency exchanges and custody providers must be listed to operate, according to Spanish law. Three new companies were included last week, but big names in the crypto ecosystem are still not registered.
Bank of Spain Crypto Registry Reaches 17 Companies
The registry of virtual asset service providers (VASPs) of the Bank of Spain reached a number of 17 companies last week, with the inclusion of three more crypto businesses. The registry added several exchanges and custody....
The Bank of Spain, the central bank of the country, has recognized the first cryptocurrency platform that will be able to operate and provide officially approved services in the country. The first exchange to receive this approval was Bit2me, which is now approved to act as a virtual asset service provider (VASP). While this is the first platform approved, others will have to complete the lengthy process established in the law to serve Spanish users.
Spain Starts Licensing VASPs
The Bank of Spain approved the first platform to act officially as a recognized virtual asset service....
The Bank of Spain has issued a new report about the performance of Latam economies during the first six months of the year. The document states that the current inflationary development that several countries of the region have can lead to institutional instability, even as the region is still recovering from the Covid-19 pandemic.
Bank of Spain Report Founds Latam Is Still Vulnerable
The Bank of Spain has recently issued a report where it examines the economic situation that Latam as a whole is going through after the Covid-19 pandemic. The report, which explains how the economy....
The Spanish central bank, Bank of Spain, has warned users about certain actions banks can take if they detect cryptocurrency purchases. In a post published on its web page, the institution explains that traditional banks have the ability to block these transactions if they suspect there are suspicious circumstances involved, such as those related to identity theft or money laundering.
Bank of Spain Explains Crypto-Related Account Restrictions
The Bank of Spain has issued a post explaining to users the potential actions that commercial banks can take when detecting a....
The Bank of Spain has issued a new report that touches on the subject of the popularity of cryptocurrency usage and the possible effects it might have on the financial stability of the nation. In the document, the bank explains that these assets — which ostensibly don’t have any kind of support behind them — can introduce systemic risks via their adoption by traditional institutions and the lack of regulation over them.
Crypto Assets Could Cause Systemic Risks According to the Bank of Spain
The Bank of Spain has issued a new report where it warns about the....