Spanish government considers using Blockchain in public administration. Also, the Spanish ruling party, Partido Popular, has considered giving tax breaks to firms that use Blockchain technology earlier this year.
2 July, AtoZ Markets – Spanish ruling party has proposed a bill to utilize Blockchain in the public administration of the country. As many as 133 deputies have supported this initiative.
Spain Proposes Using Blockchain in Public Administration
The new Spanish bill has been introduced to the Spanish Congress on June 22. It has been published on the official website of the legislative branch on June 26. It is also known that the bill has not been reviewed by other deputies yet. Moreover, there is no clear information available in regards to the details of the bill from the Congress.
The Spanish ruling party, Partido Popular, has considered giving tax breaks to firms that use Blockchain technology earlier this year. This initiative was planned to be completed by the end of the year.
Moreover, another Spanish party, Ciudadanos, has suggested to set out clear guidelines for agents that work with cryptocurrencies. In March, this party has offered to make them responsible for providing the Spanish tax office with the necessary information.
In addition, during the same month, another major party PSOE has suggested examining how cryptocurrencies are regulated in other jurisdictions.
Spain Crypto Tax
Earlier this February, AtoZ Markets has reported that the Prime Minister of Spain Mariano Rajoy’s People’s Party is reportedly preparing cryptocurrency-friendly legislation for Blockchain companies. The legislation is aiming to attract Blockchain entities, with one of the way being the inclusion of tax breaks.
Reportedly, the lawmaker that is responsible for drafting the law is Teodoro Garcia Egea. Online reports state that he believes that major European countries can largely benefit from welcoming Blockchain companies. He claims that the new technology could potentially boost the innovation in health, education, and finance. He has added:
“The level of the digitalization for companies will be key. We hope to get the legislation ready this year.”
The People’s Party looks into inviting Blockchain experts to the country to testify in parliament. The party is also planning to study the approaches of the nations that are already tapped into the Blockchain introduction.
Think we missed something? Let us know in the comments sections below.