Spanish opposition party plans crypto bill draft – Coin Hero

Populist topics are always welcome to parties. This can now also be seen in Spain, where Teodoro GarcĂ­a Egea, as executive director of the People’s Party, announces a draft “crypto- and block chaining law”.

PP demands: State should finally provide for regulation

Efforts to ensure clear conditions for Bitcoin, crypto currencies and blockchain technology exist in many European countries. Only yesterday the statement of the British FCA boss shows this once again. In Spain it is now the People’s Party PP that is attracting attention with the announcement of its own crypto bill. At some point the next elections will finally be in the house. Apart from its own ideas for regulating the blockchain and crypto currencies from A for Augur to Z for Zcash, the party has another goal according to its secretary general.

National Council to take responsibility for controls and subsidies

The draft law should contain the demand for the establishment of a so-called National Council of Crypto Currencies, as Egea announced in interviews. This Council will be responsible for data and market surveillance, as well as for promoting companies linked to digital currencies and block chains. The party would like to present the draft already in the coming days in the context of a meeting of the congress of deputies.

Approval of other parties is not secured

Unclear is whether the ideas have good prospects of implementation. As an opposition party, the necessary votes of the governing parties could be lacking. However, since the Spanish media are increasingly reporting on investigations into tax fraud in connection with crypto currencies, it is quite possible that Spanish politics will pull in the same direction on this issue. Also to offer citizens more security in this area of investment and technology. And with these (like also many enterprises) the interest for crypto currencies grows steadily.