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Spain | 2021

Cryptocurrency Adoption and trends in Spain in 2022

2.51

%

of Spaniards own cryptocurrency

How many crypto owners in Spain?

It is estimated that over 1.1 million people, 2.51% of Spain’s total population, currently own cryptocurrency.

What is the nature of Crypto like in Spain?

Spain’s economy is highly developed and benefits from such fields as renewable energy, technology and IT, manufacturing, textiles, tourism agriculture and many others. Spain has no regulations toward Bitcoin. Bitcoin transactions in Spain are considered to fall under the rules of bartering under the Civil Code. Such laws consider Bitcoin to be digital good or a thing. Bitcoin-accepting businesses are required to make an account statement with a value-added tax in euros. Spain’s financial supervisors were the second to confiscate Bitcoins while investigating frauds performed with Bitcoin in 2013. Spain is working on implementing blockchain into the infrastructure of its cities and in other fields.

Crypto’s rising popularity in Spain

  • Cointelegraph: Spain’s national soccer team to launch fan token on Turkish platform – May 2021
    The Spanish national soccer team will launch the world’s first national soccer team fan token thanks to a partnership between the Royal Spanish Football Federation and the Turkish blockchain platform Bitci Technology. The token will launch on Bitcichain, and all tech infrastructure will be provided by Bitci Technology. According to a recent announcement, Bitci Technology will be the exclusive blockchain partner of the team during the initial three-year partnership, followed by an optional two-year period.
  • Bitcoin.com: Spain Is ‘Close’ to Regulating Crypto-Related Ads in the Streets – April 2021
    Spanish financial authorities don’t seem to be happy with the massive crypto-related advertising campaigns deployed across Madrid’s streets. The National Securities Market Commission (CNMV) is rushing to approve a regulation on such ads that promote bitcoin in Spain.
  • Cointelegraph: How Spain pushed crypto adoption despite the pandemic – January 2021
    The year 2020 will go down in history for how the COVID-19 pandemic affected the Spanish economy. Beyond that, however, there have been important events from a governmental and regulatory point of view, as well as those related to private companies and the adoption of cryptocurrencies.
  • pymnts: City In Spain Debuts ‘Elio’ Crypto – December 2020
    A small Spanish city has debuted an “Elio” digital currency to help with transactions, Finance Magnates reported. The digital currency, which is pegged to the euro, will let the City Council of Lebrija provide economic assistance to just under 600 chosen beneficiaries. The council has made a digital wallet for the digital currency, according to an official cited in the report.
  • Crpytoslate: Burgers, beers and Bitcoin: This crypto-friendly cafe in Spain has it all – March 2020
    Burgers, beers and Bitcoin: This crypto-friendly cafe in Spain has it all Christina Comben Journalist @ CryptoSlate Info Twitter SHARE Tweet Post Share Post Email Secure your wealth: Invest in a Crypto Index Fund If you thought your local Starbucks or WeWork were great places for connecting with friends and colleagues, imagine being surrounded by truly like-minded people united by a common passion. Well, two passions, actually: cryptocurrency and a really good burger. That’s exactly what’s going on at Bitcoin Rock Cafe in Vigo, Spain, the first restaurant of its kind to fully finance itself by tokenizing its shares on the blockchain.

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