Madrid is Using AI to Tackle Waste Littering
One of the largest waste management providers, FCC Medio Ambiente, wants to install AI systems to detect waste items improperly disposed of in waste bins, starting in Madrid, Spain. Improper waste disposal, particularly littering or dumping outside designated bins, has been a major headache for cities and residents. Madrid Turns to AI to Resolve Improper […]
Spain temporarily suspends Telegram over copyright issues
Spain’s High Court has mandated a temporary halt to the operations of Telegram, the popular messaging app, starting March 25, 2024. This action comes in response to complaints from several media companies, including Atresmedia, EGEDA, Mediaset, and Telefonica. They allege that Telegram played a role in the unauthorized distribution of their content. Judge Santiago Pedraz […]
Spain’s High Court Upholds Ban on Worldcoin’s Iris-Scanning Initiative
In a significant ruling on Monday, Spain’s High Court has maintained a temporary prohibition on the iris-scanning venture of Worldcoin, a project co-founded by OpenAI CEO Sam Altman in 2019, which has been under scrutiny for raising privacy concerns across various nations. This decision marks a continuation of the challenges faced by Worldcoin, which proposes […]
Why was Sam Altman’s Worldcoin banned in Spain?
Spain recently hit Worldcoin, the cryptocurrency venture owned by Sam Altman, with a ban, insisting the project stop its unique method of gathering personal data through an eye-scanning device dubbed “the orb”. This action by the AEPD, Spain’s watchdog for data protection, is a decisive move against Worldcoin’s operations within the nation. The regulator’s ultimatum […]
Bank of Spain’s Selection for CBDC Testing: A Leap into Digital Currency
The Bank of Spain has taken a significant step in its journey towards embracing digital currency by selecting its partners for Central Bank Digital Currency (CBDC) testing. After an open call a year ago, which drew 24 applications, the central bank has now announced its collaboration with Cecabank, Abanca, and Adhara Blockchain. The selection highlights […]
Spain’s crypto market booms with 56% rise in registrations
According to the latest data from Spain’s central bank, the registry began in 2022 and added 30 new companies this year. This marks a 56% growth compared to the 53 companies registered in the inaugural year. Introducing prominent international platforms like Revolut, Bitpanda, Crypto.com, and Vivid highlights the expanding global interest in Spain’s crypto market. […]
New Spanish tax laws require declaration of crypto assets on non-Spanish platforms
The Spanish Tax Administration Agency, also known as Agencia Tributaria, has introduced new regulations governing the taxation of virtual assets held by Spanish residents on non-Spanish platforms. Under these new laws, individuals and corporate taxpayers are obligated to declare their crypto holdings abroad by March 31, 2024. This announcement comes as part of Spain’s ongoing […]
Spain’s CNMV Cracks Down on Fraudulent Crypto Promotions, Vows Strict Enforcement
The National Stock Market Commission (CNMV), Spain’s leading financial regulator, has issued a stern warning against fraudulent cryptocurrency promotions on social media platforms and emphasized the importance of adherence to local laws. CNMV’s head, Rodrigo Valbuena, revealed these concerns during a speech at the Deloitte annual conference for the Spanish financial sector. Illegal use of […]
Spain’s CNMV Initiates Sanction Proceedings Against Crypto Promoter
The National Securities Market Commission (CNMV) of Spain has taken action against Miolos S.L, a cryptocurrency promoter, for alleged violations of crypto promotion rules in the country. This marks the first such case in Spain, emphasizing the regulator’s commitment to enforcing cryptocurrency regulations. Spain’s principal financial regulator, the National Securities Market Commission (CNMV), has taken […]
Spain advances implementation of MiCA crypto framework, sets ambitious deadline
Spain has taken decisive steps to expedite the implementation of the Markets in Crypto-Assets (MiCA) Act, the European Union’s comprehensive crypto framework. The Spanish Ministry of Economy and Digital Transformation has announced that it plans to enforce the MiCA Act at the national level by December 2025, well ahead of the EU’s general deadline of […]
AI Generated Naked Images of Minors Scandal Under Investigation by Spanish Authorities
In a disturbing incident that has sent shockwaves through the Extremadura region of Spain, mothers in the town of Almendralejo have reported the distribution of manipulated naked images of their young daughters. These images, generated through artificial intelligence, have been altered to remove the clothing of the girls, raising serious concerns about privacy, consent, and […]
Coinbase gains Bank of Spain’s nod for Bitcoin exchange expansion
Coinbase, the renowned crypto exchange, has achieved a significant milestone in its global expansion. The Bank of Spain officially recognized and approved Coinbase as a cryptocurrency exchange and custodial wallet provider. This move is a part of Coinbase’s ambitious “Go Broad, Go Deep” strategy for international growth, specifically targeting Phase II in Spain. Moreover, on […]
Spanish premier bank A&G embraces digital assets with revolutionary crypto fund launch
In a groundbreaking move, A&G Bank, Spain’s premier private bank, has unveiled an unprecedented cryptocurrency investment fund, signaling a new era of growth in the digital assets sector across the European country. Following successfully registering the fund’s brochure with the National Securities Market Commission (CNMV), Europa Press reports that A&G is set to introduce this […]
Cryptocom secures regulatory approval in Spain
In a significant stride towards cryptocurrency normalization, Cryptocom has secured its Virtual Asset Service Provider (VASP) registration from the Bank of Spain. The digital asset platform received this green light after thoroughly demonstrating its adherence to Anti-Money Laundering Directives (AMLD) and other financial crime laws, including comprehensive user safeguards. With this validation, Cryptocom is now […]
Binance axes privacy tokens in European crackdown
In a move that signifies the mounting pressure faced by the cryptocurrency industry, Binance, a leading cryptocurrency exchange, has decided to delist privacy-focused tokens for customers residing in certain European nations. Countries such as France, Italy, Spain, and Poland will witness the termination of trading in privacy tokens including Monero (XMR) and Zcash (ZEC) from […]
Spanish authorities bust criminal gang in $110 million cryptocurrency scam
The sun-drenched paradise of Mallorca was not immune to the dark schemes of a criminal organization recently busted by Spanish authorities. This group of wrongdoers, who operated a massive cryptocurrency scam, swindled over €100 million ($110 million) from unsuspecting victims scattered across the globe. As per recent reports, one of the gang members of the […]
Spanish tax agency tightens the reins on crypto holders
The Spanish Tax Administration Agency (AEAT) is ramping up efforts to charge local holders of cryptocurrency. As the popularity of crypto assets increases, the government has responded by increasing tax impositions on investors trading and buying crypto. Several taxpayers in Spain have attempted to evade digital asset taxation in recent years. In response, the Spanish […]
Bit2me to rescue 2gether customers after account block
Following the restriction of access to the 2gether trading platform, Bit2me is trying to ingratiate itself with the 2gether users. This will likely boost the Spanish crypto exchange customer base. Bit2me has agreed to pay the €20 fee imposed by 2gether on its consumers for them to continue trading on their platform. Thus, it will […]
Bank of Spain warns against using crypto
TL;DR Breakdown The Bank of Spain has recently published a report which discourages the use of cryptocurrencies. The Bank believes that crypto assets are not backed by anything, and their prices are volatile. The Bank of Spain has published a new study that discusses the legality and popularity of cryptocurrency usage and its potential impact […]
Bank of Spain requests crypto surveillance after the increase in crypto adoption
TL;DR Breakdown • BdE Governor Pablo Hernández talks about the cryptos volatility.• Hernández shows his concern about El Salvador’s decisions with cryptos. Recently, the Bank of Spain Governor has demanded that trading with cryptocurrencies be surveillance. After the announcement, Mr. Pablo Hernández spoke about his present problems in the crypto-market. Hernández emphasizes the lack of […]
Spain lawmaker wants country to position as Bitcoin mining hub
TL;DR Breakdown Lawmaker wants Spain to be a crypto mining hub after crisis in Kazakhstan. Blames Kazakhstan crisis for drop in Bitcoin hashrate. Another lawmaker says Spain cannot be Bitcoin mining hub owing to environmental issues. Member of the Congress of Deputies from the center-right Citizens party, Maria Munoz, proposed that Spain position itself as […]
Spanish banks begin moves to offer crypto services to clients
TL;DR Breakdown Spanish banks ready to offer crypto services to clients. Regulatory clarity hindering banks from making further step with providing crypto services. Spanish Banks have begun taking steps to provide cryptocurrency services to their customers as reports have it that these entities are making plans to comply with upcoming regulations. In June, the country’s […]
Spain police warn about the crypto scams’ growth
TL;DR Breakdown • The police authority clarifies there are agencies dedicated to scam with cryptocurrencies.• Spain has announced crypto scams since June 2020, and this year, the reports increased. The Spanish law enforcement agency recently announced that cryptocurrency thefts had increased significantly. Police officers advise all crypto enthusiasts to transact cautiously to avoid any theft. […]
Spain police warn investors of surge in crypto scams
TL;DR Breakdown Spain police warn locals about rising crypto scams. National police reveals make believe tactics crypto scammers. Crypto scam surge in UK in 2021. How not to fall for crypto scams. The National Police of Spain has issued a warning to citizens about the rise of cryptocurrency-related scams recently. The authorities’ last two reports […]
Regulators in Spain warn Huobi, Bybit, other exchanges over illegal operation
TL;DR Breakdown Regulators in Spain issue warning to Huobi, Bybit and 10 other exchanges. Crypto industry continues to face crackdown from regulators globally. Regulators in Spain are the latest to crack down on ‘illegal’ crypto activities in the country. Spain’s Comisión Nacional del Mercado de Valores (CNMV), in charge of regulating the securities market in […]
Crypto trading: BBVA to launch Swiss crypto services soon
TL:DR Breakdown: A Spanish bank, BBVA, is reportedly planning to launch digital currency services in Switzerland, including crypto trading. The services are expected to be launched later in January, as they await regulatory approval. A leading Spanish financial services company, BBVA, is reportedly planning to debut crypto trading and other digital currency-related services in the […]
Spanish bitcoin ponzi scheme defrauds investors $1 billion
In Spain, the authorities investigate an alleged bitcoin ponzi scheme that has impacted up to 32,000 families. As per the provisional results of the investigation against the Arbistar bitcoin trading platform, about $1 billion of investor funds are missing. The Arbistar bitcoin trading platform’s trouble began when the firm froze all the accounts suddenly last […]
Blockchain to power Spanish cider supply chain
Leading Spanish cider manufacturers, Sidra Menéndez S.L. and Llagar Castañón S.L, will now be using Telos’ distributed ledger technology (DLT) to tackle counterfeit raw materials, enhance product tracing and regain lost consumer trust. Spanish cider is one of the most prized beverages from Europe. That sharp and crisp tang acquired from the best quality apples […]
Spain issues tax notices to crypto investors and traders amid COVID-19 outbreak
Agencia Estatal de Administracion Tributaria (AEAT), the Spanish authority responsible for the national tax and customs systems, has begun issuing tax notices to crypto investors and other taxpayers in the country. AEAT issuing tax notices to crypto investors Despite the country experiencing a staggering situation amid the Coronavirus outbreak, the tax agency did not relent […]
