The number of registered crypto companies in Spain saw a significant increase in 2023, growing by approximately 56%. According to the official registry published by Spain’s central bank, 30 companies were granted a virtual asset service provider license last year.
While the number of companies added to the registry in 2022 still surpasses the 2023 figure, it’s important to note that the registry was first opened in 2022. Despite this, several international platforms, including Revolut, Bitpanda, Crypto.com, and Vivid, joined the registry in 2023.
Although Coinbase and Kraken recently achieved compliance registrations, some prominent names are still absent from the registry. Domestic companies continue to dominate the market, holding 61 licenses out of 85.
Spanish regulators have taken an active stance toward the crypto market, with the Ministry of Economy and Digital Transformation announcing the early implementation of the European Union’s Markets in Crypto-Assets Regulation. The National Securities Market Commission also opened its first case against a technology provider for violating crypto promotion rules in the country.
In addition, the Spanish Tax Administration Agency introduced Form 721, a tax declaration form for digital assets abroad. The agency also sent out 328,000 warning notices to individuals who failed to pay their cryptocurrency taxes for the 2022 fiscal year, marking a 40% increase compared to the previous year.
Overall, the crypto industry in Spain has experienced significant growth and regulatory developments in 2023, with both domestic and international players making their mark in the market.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇪🇸 🇰🇿 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Crypto.com, Revolut, Vivid, Bitpanda |
| Currencies | Cronos, revolut, vivid, Bitpanda Ecosystem |
| Securities | None |
