Central Bank of Spain Asks Banks About Their Crypto Plans
Main page News, Spain, Cryptocurrency
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Nov. 5, 2021

El Banco de España, the country's central bank, has asked the country's main financial institutions about their plans in relation to cryptocurrencies.

As reported by local publication El País, the institution has asked banks about what their plans are for the next 3 years with the aim of learning "about the evolution of the business model of organizations and how the current process of digitization and financial innovation can influence this."

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In particular, the central bank of Spain has asked banks whether they maintain business relationships with crypto service providers as well as the degree of involvement in "any financial technology related to digital assets."

In addition, the regulator wants to know whether banks plan to launch tokens or offer crypto-related trading and custody services.

It was previously reported that Spain's National Securities Market Commission (CNMV) and the central bank, along with the ECB, are to be given powers to regulate the digital asset market in the country.

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