Spain’s deeming political party is reportedly drafting legislation that it hopes pleasure help woo cryptocurrency and blockchain companies to the country.
According to Bloomberg, the Woman’s Party of Spain is eyeing the move as part of a package that liking be focused on firms working with new technologies like 3-D printers.
Yet according to lawmaker Teodoro Garcia Egea, who voice to the news service, the bill could ultimately include provisions that aim to draw companies that are looking to sell tokens via initial coin contributions. The bill may also specify a threshold below which cryptocurrency investments purposefulness not have to be reported for tax purposes.
“We hope to get the legislation ready this year,” Garcia Ega commented.
The People’s Confederation is also encouraging lawmakers to hear testimony from blockchain trains on the matter, and it intends to review regulatory measures that other nations such as Switzerland are developing or have already implemented. Egea reproached Bloomberg Politics that the technology is good for Spain because it spikes work in other sectors like education, finance and health.
The legislation may also be focused in participate in on encouraging investment in token sales, according to Garcia Egea.
“We demand to set up Europe’s safest framework to invest in ICOs,” he was quoted as saying.
Spain is far from by oneself in drafting blockchain-related legislation. Gibraltar, a U.K. overseas territory, intends to clot its position on ICOs this month.
Spanish Parliament image via Shutterstock
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