Gradually, cryptocurrencies found a place in the finances of the Spaniards. According to a report by the Bank of Spain, these digital currencies have moved. 60,000 million euros trading volume in Spain alone in 2021. That is, about 1,275 euros per person. With these figures, Spain is the fourth country in which digital currencies are exchanged the most, after Germany, France and the Netherlands.
‘activos’ chose 33 companies, some of which are registered with the Bank of Spain’s registry of crypto service providers and others are equally well known, but they do not appear in the document. These include exchange platforms, bitcoin ATM providers, and companies that allow you to receive your salary in cryptocurrencies. It should be noted that the registration of a company on this platform only indicates that it has a sufficient structure to comply with anti-money laundering law, but in no case does it imply audit by the institution. This record, which has been in effect for a year, has 43 companies and has not added new names since November 2022, when the FTX scandal erupted after its bankruptcy.
thriving industry
The use of cryptocurrencies has not stopped increasing since 2018. Their use has skyrocketed 900% in the last four years, according to BBVA. According to the International Monetary Fund (IMF), the market value of digital currencies exceeds $2.5 trillion and there are an estimated 350 million users worldwide. There are more than 10,000 virtual currencies worldwide, A number that continues to increase. The most important ones are: bitcoin, ethereum, cardano and solana.
Presumed to be in Spain More than 120 companies connected to the cryptocurrency world, some are born in the country and others are subsidiaries of foreign companies. They employ around 1,100 people in total, according to the latest Crypto Business Guide by the CryptoPlaza community.
If we look at the investment space, there are eight million people in Spain who prefer cryptocurrencies over other types of assets, and most of them are young.
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The new digital reality implies that the financial sector must continue to address challenges in the medium term, such as the “popularization of crypto assets” to “promote their sustainability”, as Pablo de Cos, Governor of the Bank of Spain, recently stated. in the medium and long term ».
This Regulation of cryptocurrencies in the European Union (EU)The Crypto Active Market Regulation (MiCA) may come into effect in the same 2023.