Spain to Attract Blockchain Companies

Prime Minister Mariano Rajoy’s People’s Party is drafting legislation including possible tax breaks
16 February 2018   648

The tax breaks will possibly attract companies and individual cryptocurrency investors using blockchain technology. Spain is interested in attracting those companies and investors because the technology is a driver for business in industries.

According to Teodoro Garcia Egea, the lawmaker who is preparing the bill, this legislation is also considering regulations to make it attractive for firms to use a blockchain to carry out or ICOs as a financing tool. He stated that the level of the digitalization for companies will be key. Garcia Egea hopes that the legislation will be ready this year.

The People’s Party is promoting a motion to call in experts in blockchain to testify in parliament as well as analyze plans in other countries that are at a more advanced stage.

Garcia Egea stated that the bill may include tax rebates for small companies.  

The bill may include a threshold below which a cryptocurrency investment wouldn’t need to be reported to the regulator. We want to set up Europe’s safest framework to invest in ICOs.

Teodoro Garcia Egea

Santander to Deny XRP Token Usage Info

It turned out that bank uses xCurrent in One Pay FX instead of XRP token for international payments, as it stated earlier
25 March 2019   71

Santander, a large Spanish bank, in its Twitter spread incorrect information about cooperation with Ripple.

And although the majority of cryptocurrency holders reacted positively to the statement of Santander, some of them drew attention to the fact that this news had no effect on the growth of XRP trading volume.

It soon became clear that the bank provided incorrect information.

xCurrent allows Ripple customers to make payments using Fiat as well as digital currencies. A similar product, the operations in which are carried out using XRP cryptocurrency, is called xRapid.

Despite the official apology, some commentators suspected the bank of manipulating the market.