Spanish banks seek clarity on how to legally offer cryptocurrency to their clients

Spanish banks are now investigating the possibility of offering crypto assets to their clients.

The fear of missing out on a potential boom has prompted several businesses to inquire as to whether or not they should be registered in the appropriate registration for these platforms, which should be operational on October 29, local outlet Cinco Días reports.

In June, the Bank of Spain stated that it would offer the required instructions and paperwork for submitting an application for registration between September and the end of this month.

On this point, the Spanish government reacted to the legislation by adopting Royal Decree-Law 7/2021, which established the time limits for the record to be in compliance with the law. The six-month term started on April 29 and ends on October 29.

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