A number of Spanish-speaking countries seem to be cryptocurrency to want to venture. First, a senator from South American Uruguay, Juan Satori, has introduced a bill to make crypto as bitcoin (BTC) in ethereum (ETH) and help companies to accept them as a means of payment.
Cryptocurrencies are an opportunity to create investment and work. Today we present a bill, pioneer in the world, that seeks to establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies in Uruguay.
– Juan Sartori (@JuanSartoriUY) August 3, 2021
“Cryptocurrencies provide an opportunity to attract investment and create work. Today we present a new bill, a first in the world, that aims to ensure a legitimate, legal and secure use of digital currencies for companies engaged in their production and commercialization in Uruguay.”
Said Satori. Crypto would become a valid means of payment in the country under the new law. Still, the law is not the same as the recent bitcoin law passed in El Salvador. Crypto will not become an official currency of Uruguay under this law.
If the law is passed, there will be three different licenses for companies. The first license is for sending crypto transactions, the second license is for storing crypto and the third is for issuing crypto.
In addition to El Salvador and Uruguay, Argentina, Paraguay and Panama also recently announced such bills. In addition, Colombian Senator Mauricio Toro also introduced a crypto bill this week:
????We radicate again our Project of #PlatformsCrypto!
We will create a comprehensive regulation to trade crypto assets and:
-Close door to black markets
-Have an alternative to the banking system
-Guarantee security in transactionsRead it here????????https://t.co/1IBI98NH7h pic.twitter.com/zXBu8e1utk
– Mauricio Toro (@MauroToroO) August 3, 2021
Spain
Finally, we see such a development in Spain itself. The People’s Party (PP), one of the country’s largest political parties, yesterday announced a bill filed to regulate crypto. It mainly involves legalizing crypto for mortgage and insurance purposes and would allow people to pay their mortgage with crypto.
The bill also calls on Spanish banks to blockchain technology to manage mortgages and insurance by automating related processes using smart contracts. Also, there would be major tax breaks for companies involved with crypto in Spain.
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