According to Bloomberg, the Spanish People's Party is developing a law that would provide tax incentives for companies working with blockchain. The project is expected to come into force this year
“If we attract companies working with distributed ledger technology to Spain, there is an opportunity to create favorable conditions for improving the financial, educational and healthcare sectors,” says Teodoro García Egea, one of the authors of the law.
Moreover, the People’s Party has high hopes for popularizing ICOs using blockchain.
With the help of the bill, the authorities will be able to set starting amounts for cryptocurrency investment, starting from which investors will have to report to the control authorities.
In addition, the bill includes provisions for the protection of cryptocurrency investors. The Spanish securities market regulator is working on this part of the document.
According to bloomberg
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