Spain forces crypto accounts to be disclosed
Unfortunately, many, even European countries are still not ready to accept the crypto industry in its present manifestation. Affected by the lack of sufficient theoretical knowledge, fear of anonymity and lack of control. That is why some states are actively blocking cryptocurrencies and interfering with the work of companies working on the Blockchain. Spain can now be attributed to such states. The country is developing a bill under which every user of the crypto industry undertakes to disclose the details of their own account. How can you work in such difficult conditions? Let’s figure it out.
Theory
First, you need to delve into the details and understand that not everything is so bad. Of course, the measures taken may seem too harsh, however, they need to be implemented due to the increase in the number of fraudsters. Cryptocurrency is indeed being used by fraudsters who are forcing the government to take such measures. At the moment, the bill is only at the stage of development. It cannot be ruled out that it will be revised, refined and improved. Or maybe they will completely cancel. In any case, at the moment it is known that the developed one will make it mandatory for all cryptocurrency owners to disclose the details of their own account.
At the first request from the appropriate structures, you will be obliged to transfer all the required details. Otherwise, numerous checks and, possibly, legal proceedings will begin. In fact, similar measures from Spain were expected. This is not the first time the country has sought to oppress the crypto industry.
Suffice it to recall the 2018 bill that gave the Spanish Tax Agency the power to fully control all digital transactions. The reasons for such events have not changed since 2018, and are still based on the fight against fraud. Moreover, even this year, the government signed a decree requiring every blockchain company to register with the Central Bank. Most likely, the Spanish government does not fully understand the concept of Blockchain. Perhaps, in their understanding, modern protocols are just a tool for shenanigans, and not a way to improve our reality. And this is really sad, as the country is losing huge potential by refusing to master cryptocurrencies. But what about ordinary users? For all of our readers in Spain, here’s a detailed answer.
How to use coins if Spain abolishes privacy?
In general, only those users who use digital assets for illegal transactions should worry. We remind you that this is useless, ineffective and punishable by law. If your details are involved in dubious transactions, we recommend that you stop illegal transactions as soon as possible and try to find an explanation for the “gray” transfers. For all other crypto enthusiasts, the news of the imposition of sanctions is nothing more than unpleasant. Of course, we all fight for privacy and lack of centralization. After all, these principles were laid by the father of Bitcoin – Satoshi Nakamoto. Nevertheless, in modern conditions, governments are trying to control every incoming cent, and therefore we can only come to terms with you and adapt to the new provisions.
But remember that everything can change at any moment. Therefore, it is extremely important to stay up to date with all developments from the world of Blockchain and technology. Follow the latest cryptoindustry news with us. We publish only high-quality and interesting material. Thank you for attention. Good luck!
