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30/04/19 10:30 UTC-4

Cryptocurrencies in Spain: what Spanish traders “google” and the development of crypto in the country

Cryptocurrencies and trading in Spain
Cryptocurrencies and trading in Spain

On April 30, Google Trends statistics showed that the center of the Spanish crypto-world was the city of Cantabria. According to statistics, Cantabrian residents are most actively interested in the course of cryptocurrencies, as well as their development.

Our editorial board has prepared an exclusive retrospective material to evaluate how cryptocurrencies developed and develop in Spain. We will also talk about what catalysts or negative factors exist in a country where cryptocurrencies and Bitcoin were recognized as a means of payment back in 2014.

 

Bitcoin as an electronic payment system

On September 24, 2014, the Spanish government issued a number of bills, according to which Bitcoin is considered a legal payment system. This decision followed the request of the local Coinffeine crypto-exchange on the legal status of Bitcoin.

Interesting in the section: Hardware wallets for cryptocurrency from the French Ledger manufacturer

 

Used equipment for Bitcoin

In December 2014, the British second-hand electronics retailer, CEX, began accepting Bitcoin for payment. The CEX retailer, whose offices and shops are also located in Spain, accepts the first cryptocurrency in Catalonia, Navarre and the Balearic Islands.

 

Top up your mobile account for Bitcoin and Altcoins

On the territory of Spain, you can replenish your mobile phone account with Bitcoins or other Altcoins. This service became available in 2016. You can top up your mobile phone account with one of more than 40 cryptocurrencies in the list thanks to the payment startup Bitrefill and the ShapeShift.io exchange. In addition to the first cryptocurrency, the list includes coins: Ethereum, Monero, Lightcoin, Dogecoin and others.

 

Taxation of cryptocurrency mining

Since September 20, 2016, a law has been in effect in Spain that relates mining to “economic activity”. Spain's Ministry of Finance supported and implemented the law. Now the miners of Spain are required to register and pay taxes. In addition, this decision was supported by the local tax directorate.

 

Cryptocurrencies for cash at any ATM

On the territory of Spain, you can exchange cryptocurrencies without a special Bitcoin ATM or exchange. In the winter of 2017, the local HalCash startup created an instant exchange platform to which almost all the country's ATMs were connected. Thanks to this innovation, anyone on the territory of Spain can transfer crypto to Fiat or vice versa through any available ATM.

 

Blockchain in government agencies

In 2017, the Partido Popular party proposed to introduce blockchain technology for more reliable operation of government bodies. The proposal was reviewed and agreed upon after 8 months. So, by the end of 2017, Spanish hospitals, cadastral services, as well as some postgraduate educational institutions introduced the technology of a distributed book. In addition, in Catalonia adopted a system of official voting on the blockchain. Estimated launch date 2020 year.

 

Hotels for cryptocurrency

In March of this year, the Casual Hoteles hotel chain launched a pilot program for calculating cryptocurrencies. The event is aimed at attracting tourists who are interested in technological innovations.
 
Cryptocurrencies on the territory of Spain and what Spanish traders are googling about.

Recall that we have already talked about how the cryptocurrency industry is developing in Greece.

Editor: Pereyidenko Ihor

#cryptocurrency #Bitcoin #Greece #HalCash #Bitrefill #Coinffeine #cryptocurrencylaw #Spain #cryptocurrencyinSpain

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