The Audiencia Nacional (National Hearing), a Spanish special tribunal, has maintained the measures that the AEPD, the private data watchdog in the country, has taken against Worldcoin. The court determined that the defense of the general interest of protecting the people’s data must prevail over the company’s economic interest. Spanish Audiencia Maintains Suspension of Worldcoin […]
Bitcoin News
Spanish Treasury Proposes Tax Reform to Allow Cryptocurrency Seizures
The Spanish Treasury is proposing a tax reform to allow the seizure of cryptocurrency assets when liquidating tax debts. According to local sources, the proposal would also allow the state administration to embargo these digital assets as it is giving the first steps by declaring electronic money entities as tax collection agents.
Spanish Treasury Seeks to Seize Cryptocurrency for Tax Debts
The Spanish Treasury is seeking to gain control and oversight over cryptocurrency assets owned by taxpayers. The institution proposes reforming the current tax law to allow Agencia Tributaria, the national tax watchdog, to seize the cryptocurrency holdings when executing taxpayers’ debts.
The proposal, made in 2021 to the European Union (EU), will be implemented soon, as local sources explain that the government is quickly moving to create the conditions needed for the reform to be applicable.
The Spanish administration issued a royal decree that now declared electronic money entities as tax collection agents, meaning that these would have to execute embargo actions on the customer’s digital money and crypto assets when required by the government, a duty only required from traditional banks and credit institutions before.
Also, this year, taxpayers will be required to declare, for the first time, the cryptocurrency assets held outside of the country, data that will be useful to apply this new regulation when passed. Data from crypto tax statements obtained since 2021 will also be used to collect money from tax debts when needed.
However, the quick application of these cryptocurrency laws will establish a burden on Spanish regulators, who will have to change their definitions and adapt to the new tax framework and its rules due to their incompatibility with the concepts introduced in EU-wide rules like MiCA, the Markets in Crypto-Assets regulation, which has a different definition of cryptocurrency, and the general EU tax directive to be applied in 2026.
What do you think about the tax reform proposal to allow the Spanish administration to seize and embargo cryptocurrency assets from taxpayers? Tell us in the comments section below.
Bitcoin.com News Expands Global Reach With Spanish and Russian Versions of Site
In a nod to the ever-growing global impact of cryptocurrencies, Bitcoin.com News has launched Spanish and Russian versions of its site, aiming to provide non-English speakers with the latest in crypto news and insights.
Spanish and Russian Speakers Gain Direct Access to Crypto News as Bitcoin.com News Expands Language Offerings
In a move informed by the decentralized and global ethos of cryptocurrency, Bitcoin.com News has unveiled Spanish and Russian versions of its popular news platform. This strategic expansion, underlining the increasingly international appeal of digital assets, is designed to increase access to timely, high quality crypto-related news for non-English speaking audiences worldwide.
The launch of the Spanish (news.bitcoin.com/es) and Russian (news.bitcoin.com/ru) sites comes at an important moment in the crypto industry. The sector’s growth has been meteoric, particularly in regions where English is not the primary language. Bitcoin.com News is committed to representing the inherently global nature of cryptocurrencies.
“By bringing crypto news to Spanish and Russian speakers we’re doing our part to give as many people the best possible up-to-date crypto news as possible,” said head writer for Bitcoin.com News, Jamie Redman. Redman noted:
Crypto empowers individuals, which is more important than ever in a world where much of modern technology centralizes power into the hands of a few tech companies, institutions, and government agencies. It’s important for everyone, irrespective of their language, to understand and participate in this digital revolution.
The expansion into these languages is particularly significant given the burgeoning crypto markets in Latin America and Eastern Europe. Both regions have seen an increase in crypto adoption due to various economic factors, including currency devaluation, lackluster access to financial tools, and a growing young, tech-savvy population.
Moreover, Bitcoin.com News is enhancing its community engagement by introducing Spanish and Russian channels on popular social platforms like Telegram and X. These channels aim to create a more inclusive and interactive environment for crypto enthusiasts to discuss and share insights in their native languages.
Spanish and Russian are just the beginning of Bitcoin.com News’ plans to broaden its global footprint. “As the crypto landscape evolves, so will our efforts to make the best crypto news product, including serving it to more people all over the world, in their own language,” Redman added.
The move by Bitcoin.com News is a testament to the borderless nature of cryptocurrency and its appeal across different cultures and languages. Bitcoin.com News is committed to democratizing access to crypto information, fostering a truly global community in the digital age.
What languages should Bitcoin.com News consider next for site-wide translation? Share your thoughts and opinions about this subject in the comments section below.
Spanish Police Crack Down On Crypto-Based ISIS Funding Operation
Spanish police successfully dismantled a network involved in financing ISIS through crypto transactions, resulting in the arrest of five individuals over the weekend. The operation, part of a two-and-a-half-year investigation, targeted individuals allegedly connected to the terrorist organization known as DAESH or ISIS.
The arrests were made in Valencia (2), Cáceres, Alicante, and Guipúzcoa. Four of the suspects have been remanded in custody by court order.
Global Network Financing ISIS Via Crypto?
According to the official statement of the Spanish national police, the operation marks the second phase of “MIYA,” an initiative launched in 2021 by Spain’s National Police General Information Commissariat (CGI).
The investigation received collaboration from intelligence and security services in twelve countries, including the Moroccan Surveillance du Territoire (DGST), the Algerian Direction Générale de la Sécurité Intérieure (DGSI), the Mauritanian Direction Générale de la Sûreté Nationale (DGSN), the US Federal Bureau of Investigation (FBI), Swiss FEDPOL, and EUROPOL.
Within Spain, the CGI worked closely with its Provincial Information Brigades in Valencia, Alicante, Cáceres, and San Sebastián and the National Intelligence Center (CNI). The Central Court of Instruction number 6 and the Prosecutor’s Office of the National Court coordinated the investigation.
The initial phase of the operation, conducted after a year and a half of investigation, uncovered a person of Maghreb origin residing in Spain who was in contact with a jihadist seeking to carry out an attack in France on behalf of DAESH. The Spanish individual offered their collaboration to the radical extremists.
The CGI’s counterterrorism experts located the intended attacker in Switzerland and promptly shared the information with the Swiss FEDPOL. A joint operation was swiftly organized, resulting in the simultaneous arrest of the two individuals in March 2022, along with six others across Europe and the Maghreb.
The detainee in Spain was subsequently sentenced to two years in prison for terrorism-related charges and released in mid-2023.
Following the initial phase, CGI analysts discovered that the two detainees were part of an international network supporting DAESH, spanning multiple continents, including Afghanistan, the Middle East, Sahel, Maghreb, and Europe.
The network allegedly obtained funds through criminal activities in Europe to finance their terrorist operations with crypto. Large sums of money were moved through international transfers and crypto, with authorities seizing nearly 200,000 euros worth of digital assets.
Five Suspects Arrested
According to the official statement, members of the network also engaged in indoctrination, attempting to recruit new followers to the jihadist cause and providing support to individuals expressing a desire to carry out terrorist attacks.
The investigation uncovered evidence suggesting the network’s involvement in planning at least two attacks, ultimately foiled by security services.
The recent arrests in Spain mark the conclusion of the investigation, with five individuals taken into custody. One of the suspects exhibited signs of radicalization in recent months and had expressed a desire to carry out an attack.
During a search of the individual’s residence, authorities discovered handgun ammunition, an ax, manuals for making explosives, manuals for indoctrinating minors, and jihadist propaganda.
As of the current update, the total market capitalization of the cryptocurrency market is .525 trillion, reflecting a decline of over 2% within the past 24 hours.
Featured image from Shutterstock, chart from TradingView.com
Report: Spanish Police Arrest Man Accused of Conspiring With Jailed Ethereum Developer to Evade US Sanctions
Spanish law enforcement said on Dec. 1 it arrested a man accused by the U.S. of conspiring with Ethereum developer Virgil Griffith to help North Korea evade sanctions. A Spanish judge released the man who has since denied the allegations.
Cao de Benos Released Without Conditions
The Spanish police announced on Dec. 1 that it had arrested a man accused by the U.S. Department of Justice (DOJ) of contracting with jailed Ethereum developer Virgil Griffith to help North Korea evade sanctions. Alejandro Cao de Benos, who used a false identity, was caught in Barcelona while preparing to leave for Madrid.
According to a Reuters report, the DOJ has previously accused Cao de Benos of asking Griffith to use his expertise to assist North Korea in busting U.S. sanctions. Griffith is now serving a more than 5-year sentence for his supposed role in the conspiracy.
Following his arrest, Cao de Benos, who founded the Korea Friendship Association, appeared before a Spanish judge who has since released him without conditions. After his release, Cao de Benos immediately pleaded his innocence in a post on X (formerly Twitter). He added that there would be no extradition.
“There is no extradition. The US accusation, besides being false, does not exist in Spain,” Cao de Benos said on X.
However, according to an unnamed Spanish judicial source, the U.S. now has to formalize the process to have Cao de Benos extradited. If convicted, Cao de Benos faces up to 20 years in prison.
What are your thoughts on this story? Let us know what you think in the comments section below.
Spanish Securities Regulator Hints at Probing X for Hosting Crypto Ads For Unlicensed Organizations
The Spanish securities regulator has recently hinted at investigating and sanctioning X (formerly known as Twitter) for allowing unlicensed providers to post crypto ads. According to Spanish law, social networks and other service providers must verify that ad campaigns come from authorized financial service providers.
Spanish Securities Regulator Hints at Taking Actions Against X
The Spanish securities regulator, the National Stock Market Commission (CNMV), hinted at taking action against X, formerly known as Twitter, for allowing unauthorized financial services providers to run crypto ads on its platform. Rodrigo Valbuena, president of the CNMV, stated that the institution had recently detected several ads on X’s platform that did not comply with the current crypto advertisement regulation.
At the Deloitte-ABC financial meeting, Valbuena described these ads, explaining that:
The advertising pieces illicitly use the image of some Spanish actors and impersonate the design and identity of a national media outlet to try to obtain data and money from investors.
Furthermore, Valbuena stressed that it was one of the clearest fraud attempts out there, saying that it was “difficult” to admit these ads could be spread as “regular, moral or legal” by any channel.
Spain’s Crypto Regulation and Social Networks
The Spanish regulation for stock markets includes an article that forces communications service providers and social platforms, such as ISPs and social networks, to take measures to avoid the diffusion of ads contracted by unlicensed entities. In Spain, these platforms are responsible for checking that their customers are not on the CNMV’s list of “pirate” operators and are authorized to lend financial services.
Valbuena clarified that the CMNV was responsible for surveilling these platforms and sanctioning the possible unfulfillments of these norms and that the institution would exercise all of its power to sanction those responsible in these cases.
He also bashed social network companies, emphasizing that these “should not accept even one euro as remuneration for unauthorized advertisements from companies designed to profit by deceiving their followers.”
The CNMV has been vigilant on how cryptocurrency service providers leverage traditional and non-traditional media to advertise their products. In 2022, the institution issued a circular establishing rules to be followed by mass cryptocurrency advertisement campaigns. Since then, the CNMV has registered 210 interventions, reviewed 1327 advertising pieces, sent 196 information requests, and applied sanctions to a single cryptocurrency campaign.
What do you think about the CNMV and its possible probe on X? Tell us in the comments section below.
Spanish Tax Agency Puts Crypto in Its Sights for the Upcoming Tax Season
The Spanish tax agency has included crypto as part of its new guidelines for this year’s upcoming tax collection season. Apart from boosting the channels for voluntary tax applications, the agency will potentiate the investigation of cryptocurrency in digital payments, including potentially seizing cryptocurrency associated with tax debts and criminal activity.
Spanish Tax Agency to Intensify Crypto Tax Oversight
The Spanish tax agency is preparing its crypto strategy for the upcoming tax collection season. On Feb. 27, the agency revealed several guidelines to increase the collection of taxes related to the use of cryptocurrency in digital payments, and also to curb criminal activity.
In the document, the agency declares that “this year, the intention of the collection area to promote actions to locate crypto assets subject to seizure is underlined.” This could mean that tax debtors will be tracked and have their cryptocurrency seized to amend their debts. However, the document does not offer more details about how the agency aims to do this, or the tools that it will use for this purpose.
In the same way, the institution indicates that it will develop “an investigation plan associated with the use of cryptocurrencies in the field of the digital economy in order to detect assets whose origin may be linked to criminal activities.”
Crypto in the Crosshairs
These new movements are directed to strengthen the vigilance that the Spanish tax agency exerts on crypto assets, with the objective of ramping up collection.
Other tax agencies in the world are also including digital wallets and cryptocurrency as an important part of their investigative and seizure processes. For example, the Argentine tax authority has been able to confiscate funds from digital wallets since February 2022, when the organization included this kind of structure, very popular in Argentina, as part of the assets susceptible to seizure.
However, the Spanish tax agency has historically not been so successful when targeting the growing cryptocurrency investment crowd. Reports indicate that it only managed to warn 5.3% of the cryptocurrency investors in the country about their duty of paying crypto taxes in 2022.
This means that more than 4 million cryptocurrency investors were not contacted by the agency regarding their cryptocurrency tax duties. Some of these crypto holders don’t even know they have to declare these assets, according to local analysts.
What do you think about the actions of the Spanish tax agency regarding collecting crypto taxes? Tell us in the comments section below.
Zaragoza is the First Spanish City to Release NFTs
Zaragoza is the first city in Spain to release NFTs, a new form of digital property that has been gaining traction around the world.
NFTs are a new form of digital property that allows users to own a piece of digital content, just as they would own a physical object. They’re also an investment—the value of the NFT increases as more people use it and buy into the community.
The Zaragoza City Council recently became the first official body in Spain to implement NFTs. During the Fiestas del Pilar, visitors to their site were been able to win NFTs from Cabezudos de la Pilara, El Berrugón, and La Forana, three cultural events that take place in Zaragoza.
NFTs are not only fun to collect, but also offer significant benefits to governments in terms of engagement with their citizens. These digital objects can be used in public spaces to engage with citizens and promote interaction between the government and its citizens. They can be used by citizens to contribute to the community in positive ways.
Buy Virtual Land
Not only that, but you can buy virtual land NFTs in Zaragoza, powered by Next Earth.
Next Earth is a virtual replica of Earth that lets you buy NFTs that are digitally simulated assets of places. You can purchase virtual real estate, such as a plot of land in the city of Zaragoza, with BNB, the Binance Smart Chain native token.
It’s important to note that these virtual properties on Next Earth aren’t reserved for just Zaragoza—anyone can buy a piece of land in any city they choose.
And now, those who have been following this space will know what it means to have “purchased” a house or a plot of land. But what about those who haven’t been paying attention?
Get Your Feet Wet With Virtual Real Estate
Next Earth is the first blockchain-powered platform that lets you buy NFTs (non-fungible tokens) that are digitally simulated assets of places.
The blockchain ensures that each property is unique and cannot be replicated. It also allows for trading among users who want to buy or sell virtual properties—in fact, it’s actually how Next Earth’s revenue is generated. Additionally, 10% of each purchase goes to environmental causes like The Ocean Cleanup, Kiss the Ground, and Amazon Watch.
Virtual real estate is a great way to get your feet wet in the NFT space, since you can see how it feels to own something before buying a collectible or an actual asset such as a house. You’ll understand the benefits and drawbacks of owning an NFT before making any type of purchase—whether it’s real estate, artwork, digital movies, or anything else.
Let’s look at some of the benefits of owning virtual land.
Benefits of Virtual Real Estate
Virtual real estate allows you to experience ownership without needing to invest in any physical property. Many people don’t have enough money to buy properties but do have the money for virtual real estate. This gives them an opportunity to buy into the market with only their cryptocurrency.
Further, virtual real estate provides an easy way for people who are new to cryptocurrencies or blockchain technology to get familiarized with this exciting space. If you’ve ever wanted to learn more about cryptocurrency but didn’t know where or how to start, buying virtual land on Next Earth is a great place to start!
Finally, virtual real estate gives users a tangible representation of their favorite city that they can use and even trade like traditional currency. You might not be able to visit Zaragoza in person anytime soon (unless you’re very lucky), but you can go online and “visit” it by living there virtually on Next Earth.
Zaragoza is a Spanish city most known for its public market, various museums, and historical landmarks. Want to jump into real estate? Zaragoza plots are awaiting. Or perhaps you’d rather buy a plot in France. All of these are now possibilities with the advent of NFTs, and you won’t have to move away from your computer screen to make them happen.
Photo by Marcelo Rivas on Unsplash
NewsBTC
Spanish Authorities Warn Cryptocurrency Exchanges For Unregistered Services
Cryptocurrency businesses have continued to receive pressure globally from different regulatory bodies. For example, the Spanish National Securities Market Commission (CNMV) recently released a warning to many financial markets and crypto-related businesses. The warning is on unregistered services which they offer.
From the official document from CNMV, about 11 entities received the warning from the regulatory body on August 16. The document stressed the non-compliance of these entities with the registry of the commission.
Among the listed entities are some prominent crypto trading platforms like Bybit and Huobi. However, this Spanish regulatory body maintains that the unregistered entities have no authorization to provide investment services in the country.
Related Reading | Total Cryptocurrency Market Cap Value Surges Across .9 Trillion Setting A New Record
According to CNMV’s consulting page, the mandate to provide security-related services is only for registered companies in Spain. Though CNMV has no power to ban a company from operating in Spain directly, it can put forth a court appeal.
Through a November report, Crypto Company Guide in Spain disclosed that about 120 crypto businesses are registered and operational in Spain.
Spain’s Move So Far With Cryptocurrency
A review of some activities from last reveals that Spain has created a friendly environment for crypto businesses.
First, there was the approval of a law to develop a sandbox for financial technologies by the Committee on Economic Affairs and Digital Transformation.
In his speech, Professor Ismael Santiago from the University of Seville confirmed the sandbox would enhance new jobs with increased value. Also, it will bring economic competitiveness and technological development.
Moreover, the professor confessed that implementing the sandbox will be a push-up for Spain by making it a reference point in Europe. In fact, such an establishment catalyzes the crypto ecosystem while attracting more national and international talent.
The daily chart shows that the crypto market has taken a dip after setting new records | Source: Crypto Total Market Cap on TradingView.com
There’s a recent move from the Spanish Socialist Workers’ Party via the introduction of a non-law proposition. This has to do with launching a national digital currency following experimentation of the digital euro by the European Central Bank.
Related Reading | Ukraine’s Security Service Closes Illegal Cryptocurrency Exchanges
According to the proposal, when there’s a necessity for a monetary expansion, a national digital currency would allow higher liquidity.
It will enable a more direct process through the provision of liquidity into current accounts. In addition, such a process will create instantaneous transfers without using any intermediaries or third parties.
Furthermore, the use of digital currency ends banks’ privilege over money. This implies that there’ll be no nationalization of credit or nationalization of the banking system.
Featured image from Pixabay, chart from TradingView.com
NewsBTC
Major Spanish Bank Latest to Bring Blockchain Into European Finance
n Spain-based CaixaBank integrates We.trade, giving customers access to blockchain technologyn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7