In Spain, encourage direct investment in crypto-currency funds

[annstasia009]

The National Commission on Securities of Spain (CNMV) expressed its position regarding persons who invest in digital currencies
CNMV published May 21, 2018 document, which additionally defines three types of companies that have the right to make direct investments in crypto currency. According to Law No. 22/2014, this may be closed investment companies (EICC), closed-end investment funds (FICC) and closed-end investment companies (SICCs). The commission states that such securities rules applied to crypto-currencies are in effect until the EU adopts pan-European rules for regulating this sector of the economy.

By this document, the authorities of the country express their full approval of the activities of crypto-investors in Spain. Victor Rodriguez, CNMV's Director for Strategic Policy and International Relations, asserts that the commission will further stimulate the development of digital technologies. The most attractive, in his opinion, will be the opportunity to make more the ICO process and the opening of the mining companies, since direct investment is most suitable for these areas.
https://ucg.co/news/v-ispanii-pooshchryayut-pryamye-investitsii-v-kriptovalyutnye-fondy

[CrimsonGT]

Thanks for this news, very interesting. Feels like we face tendency of the european governments to accept the legal status of cryptocurrencies and we will see the growth of the market in the future. Good for long-term investors!

[upbit]

It depends on how you do it, you need to do everything with your head and study it. What they want to block, of course, is not correct.

[ROMANALADIN]

Recently, the Spanish government, as part of the identification and suppression of potential tax evasion and money-laundering in the territory of the country using digital currencies, to the local crypto-currency business with the requirement to provide data on customer transactions kriptovalyut.

[Dluretic]

Indeed, the average user may face more fraud.
Handing money over to a professional fund manager might be a better option.

[cryptogeek101]

The National Commission on Securities of Spain (CNMV) expressed its position regarding persons who invest in digital currencies
CNMV published May 21, 2018 document, which additionally defines three types of companies that have the right to make direct investments in crypto currency. According to Law No. 22/2014, this may be closed investment companies (EICC), closed-end investment funds (FICC) and closed-end investment companies (SICCs). The commission states that such securities rules applied to crypto-currencies are in effect until the EU adopts pan-European rules for regulating this sector of the economy.

By this document, the authorities of the country express their full approval of the activities of crypto-investors in Spain. Victor Rodriguez, CNMV's Director for Strategic Policy and International Relations, asserts that the commission will further stimulate the development of digital technologies. The most attractive, in his opinion, will be the opportunity to make more the ICO process and the opening of the mining companies, since direct investment is most suitable for these areas.
https://ucg.co/news/v-ispanii-pooshchryayut-pryamye-investitsii-v-kriptovalyutnye-fondy

This is a welcome development for crypto investors in spain, it's going to boost the moral of the people in the cryptocurrency world of business. Thanks to the National commission on Securities of Spain.

[dtfjzgxh]

I think the news from Spain is a good news, which is necessary to regulate the development of digital currency in Spain, which also shows that some European countries are starting to pay more and more attention to encryption.

[teilwalL05]

This article just show the popularity of Cryptocurrency and now it will sure be legal now on Spain and certain issues about Cryptocurrency had determine that it is really good to invest, trade, And profit with bitcoin and I really wish that some countries would also do the same and take a plunge and try to make an amends with Cryptocurrencies system that it is a good technology.

[BartS]

To me this seems like it is good news, I know that many people in the forum do not like the idea of getting any regulation from a government but it was inevitable if cryptocurrencies are going to become as big as we think they will become governments will have to do something and now we are seeing that, but as long as the regulations are friendly or at leas not that oppressive everything is fine, since that will increase awareness and investors will fell safer with some laws and regulations in place.