The principal financial regulator in Spain, the National Securities Market Commission (CNMV), has released a comprehensive list of 18 companies that are operating in the country without the necessary license. The list, which was published on February 26, includes several crypto companies such as Bitbinx, Crytomerge, and CryptoMaxiTrade. The CNMV acknowledges that its authority is limited and advises concerned investors to consider seeking legal recourse through the ordinary courts of justice.
In related news, Microsoft has announced a $2 billion investment in the development of AI infrastructure in Spain. This highlights the growing interest and support for technological advancements in the country.
Furthermore, the number of officially registered crypto companies in Spain has seen a significant increase of approximately 56% in 2023. According to the official registry, which is available on Spain’s central bank website as an Excel document, 30 companies were granted a virtual asset service provider license in 2023. The current registry includes 83 companies, including popular multinationals such as Binance, Bitpanda, Revolut, and Crypto.com.
The CNMV and other Spanish regulators have been working together to establish a consolidated policy regarding the crypto industry. In October 2023, the Spanish Ministry of Economy and Digital Transformation announced the accelerated implementation of the Markets in Crypto-Assets Regulation, the first comprehensive crypto framework in the European Union.
In November 2023, the CNMV initiated its first case against a technology provider called Miolos for violating crypto promotion rules in Spain. The company allegedly failed to publish risk warnings and obtain CNMV approval for its campaigns.
Spain holds a prominent position within Europe and ranks fourth globally in terms of the number of cryptocurrency ATMs. The country currently operates 310 ATMs, surpassing its neighboring countries like Germany with 178 ATMs and France with only 16.
Simultaneously, the central bank of Spain is actively exploring the potential of a central bank digital currency (CBDC). In January 2024, the bank selected its collaborators for the pilot testing of a wholesale CBDC. Notably, the Spanish CBDC program is independent of the digital euro project and aims to cover all economies in the eurozone if implemented successfully.
In other news, ChatGPT has faced criticism for its trigger-happy response involving nuclear topics, SEGA’s 80s AI has garnered attention, and TAO has experienced a 90% increase, as reported by the AI Eye magazine.