Spain’s Ruling Party is Preparing Legislature That Includes Possible Tax Incentives
Spain’s ruling party is preparing legislature that includes possible tax incentives to lure blockchain companies into the country.
The Peoples party (pp) of Spain is eyeing the move as part of a package that would be focused on firms working with new technologies like 3-D printers. According to lawmaker Teodoro Garcia Egae the specific regulations’ that would make Spain a destination for entrepreneurs and firms to carry out initial coin offerings (ICOs) using blockchain(s).
Before the introduction of the bill’s, Spain’s ruling party also promotes the issue of convening blockchain experts to demand technology on the country’s parliament. The PP motion also proposes plans to proactively study other countries’ research or implementation efforts in blockchain technology, such as Crypto Valley, a government-backed Swiss government.
In addition, the legislator may be subject to a certain limit, the legislator may also be affected by the regulator of the country. In collaboration with Garcia Egea also revealed ongoing moves by Spain’s securities markets regulator to protect residents’ investments in cryptocurrencies.
“We want to set up Europe’s safest framework to invest in ICOs,” he was quoted as saying.
Spain is far from alone in drafting blockchain-related legislation. Gibraltar, a U.K. overseas territory, intends to solidify its position on ICOs this month.
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