2020 will go down in history in terms of how the COVID-19 pandemic will affect the Spanish economy. In addition, there have been significant developments in terms of government and regulation, in addition to developments related to private companies and the introduction of cryptocurrencies.

Cointelegraph en Español gives you an overview of the events noted in the past year, as well as various notable representatives of the local cryptocurrency ecosystem and opinions on what the industry can expect in 2021.

January
Eurocoinpay asks Spain’s Minister of Economy to regulate cryptocurrency.
February
In an interview on February 14, AEChain’s secretary general said the financial sector is where blockchain is developing in Spain.
The Spanish FinTech & InsurTech Association presents a great talk on WealthTech.
The Cabinet approves the draft law “Digital transformation of the financial sector”, which provides for the creation of a “sandbox”.
march
DASI, Crypto Plaza and Quum have launched a directory of Spanish cryptocurrency companies.
In an interview on March 16, the CEO of Bitcobie stated that the adoption of bitcoins in Spain is lower than in Latin America.
Bitnovo confirmed on March 20 that cryptocurrencies have recovered more than traditional markets in the midst of the coronavirus crisis.
April
According to the CEO of Crypto Digital Group, the financial situation was already dire and COVID-19 made it worse.
The Spanish company Bitnovo says it sees the perfect moment to buy bitcoins.
COVID-19 and empty stadiums: options with blockchain technology and tokens are offered to compensate for losses.
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In the midst of the COVID-19 crisis, the Spanish are increasingly relying on cryptocurrencies.
Bitcoin will be cut in half on May 12.
The former COO of Bitnovo has been appointed as the manager of Binance in Spain.
On May 26, Bitcobie hosted a virtual party to celebrate their second birthday.
June
Bitpanda has launched its platform in Spain.
A new version of the Crypto Business Directory has been presented for Spain 2020.
The project stipulates that cryptocurrency providers must comply with anti-money laundering rules.
The Bitcoin trademark and logo are reportedly registered with the Spanish Patent and Trademark Office.
July
After Wirecard went bankrupt, a fintech sandbox case in Spain was approved.
Spain ranked sixth in the world for the number of Bitcoin ATMs.
Friday July 31st On July 2, a cryptocurrency investment account was hacked.
August
The decentralized financial market for olive oil futures and options was born in Spain.
September
Crypto.com has launched a Spanish version of the app and exchange.
Germany, France, Italy, Spain and the Netherlands are urging the European Commission to impose strict rules for cryptocurrencies.
The Committee on Economic Affairs and Digital Transformation of the Spanish Congress unanimously approved the bill on the digital transformation of the financial system.
On September 23, real estate debt coding was introduced.
October
The Coinmotion Observatory for Cryptoactives was launched on October 5.
Some bitcoins are sent to Spanish congressmen as an educational initiative.
The Spanish Council of Ministers approves “a bill on measures to prevent and combat tax fraud.”
In an interview on October 24, Ramon Feraz, CEO of 2 together, stated that the platform has enhanced security.
November
On November 4, the Spanish Senate approved the Law on Digital Transformation of the Monetary Sector.
The law on digital transformation of the financial sector was published in the Boletín Oficial del Estado: the regulation comes into force in Spain on November 15.
A new report from the Guide to Crypto Companies in Spain highlights the growing number of companies, with around 120 crypto companies registered and already operating in Spain and employing over 1,100 employees.
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Launch of a guide to decentralized finance in Spain
Hotel chains in Spain can accept payments in cryptocurrency thanks to an alliance between a booking portal and a crypto company.
Government and regulations
On November 4, following persistent demands from the Spanish fintech sector, the Senate Committee on Economic Affairs and Digital Transformation finally approved a law on digital transformation of the financial sector, which included the creation of a sandbox.

The Spanish Fintech Association and Insurtech stressed the importance of the hedge fund: “Its immediate implementation will generate new initiatives in the fintech ecosystem, ease access to finance, further increase competition and lower barriers to entry.”

Ismail Santiago, professor at the University of Seville and CEO of OlivaChain I + D + I, believes that such organizational development will contribute to “value-added job creation, technological development and economic competitiveness.”

Source: CoinTelegraph

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