Community of Madrid asserts Mundocrypto Metaverse Day cannot be banned
During a saturday event at the Wizink Center, the Mundocrypto Metaverse Day was presented as an occasion that the Community of Madrid would not attempt to ban, emphasizing that authorities would challenge illegality when it arises. The statements came as part of a broader discussion about how the event fits within existing regulatory frameworks and the roles of various institutions in overseeing new digital finance ventures.
Enrique López, the regional president’s justice and interior minister, addressed onlookers and reporters while at the security operations for Colmenar Viejo’s patron saint festivities. He clarified that the regional government does not claim jurisdiction over activities centered on digital currencies and related technologies. His remarks underscored a respect for the rule of law and a reminder that not every crypto-related activity falls under the authority of regional governance.
“If an activity is neither regulated nor prohibited by current law, the Community of Madrid cannot prohibit its celebration,” López stated. He added that attempting to ban such an event could raise questions about legality. The emphasis was on upholding legal processes while recognizing the evolving nature of digital financial activities.
Additionally, López expressed concern about aspects connected to cryptocurrencies and so-called investment lounges that operate outside the oversight of financial institutions with the necessary powers. He pointed to the need for responsibility in monitoring potential illegal activities, noting that enforcement should come from the appropriate economic authorities.
The minister highlighted the roles of the Ministry of Economy, the National Securities Market Commission, and the Bank of Spain, explaining that these bodies are expected to ensure market stability and oversight. In his view, it is the economic authorities that should safeguard fair play and protect investors in a rapidly changing financial landscape.
CNMV reiterates it does not issue investment advice licenses
Rather than engaging in political disputes between the regional government and other officials, the focus should be on entities with regulatory power. It is urged that those equipped to assess risks and legality take the lead in such matters, rather than broad criticism aimed at event organizers.
MundoCrypto, the organizer behind the Mundocrypto Metaverse Day, is associated with the National Securities Market Commission. It is noted that MundoCrypto does not hold any license to provide advisory services or to conduct interim investment transactions in financial instruments. This point is raised to remind participants and observers about the current licensing status of the organization and the scope of its activities within the market framework.