Share this article
EU to Designate Bank of Spain, Securities Regulator for Crypto Oversight: Report
Draft regulation also requires businesses offering crypto services in the EU to have a base in the bloc, Cinco Dias reports.
Updated Sep 14, 2021, 1:16 p.m. Published Jun 25, 2021, 11:02 a.m.
The European Union is set to designate the Bank of Spain and the National Securities Market Commission, Spain's stock market regulator known as CNMV, to oversee crypto assets in the country, Cinco Dias reported.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- A draft revision of the EU's proposed regulation of markets in crypto assets, known as "MiCA," designates the two entitities to oversee crypto activity in Spain alongside the European Central Bank, the Spanish financial newspaper reported on Monday, citing a working document it had access to.
- The aim is for the proposed regulation to be ready by the end of 2021 or the beginning of 2022, Cinco Dias said.
- The document also stipulates that businesses offering crypto services in the EU must have a base in the bloc.
- Non-fungible tokens (NFTs) won't be covered by the regulation because, unlike cryptocurrencies, they are not used as a medium of exchange, an indication of how the EU needs to be clear about the definition of crypto assets.
- Banks looking to work with crypto assets would have preference in obtaining authorization, while investment service companies would have to "start from scratch on an application," according to Cinco Dias.
Read more: State of Crypto: FATF’s New Guidance Takes Aim at DeFi
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Ethereum’s P2P Layer Is Improving Just as Institutional ETH Buys Pick Up
Early PeerDAS performance is proof that the Ethereum Foundation can now ship complex networking improvements at scale.
What to know:
- Ethereum co-founder Vitalik Buterin said that the network is addressing its lack of peer-to-peer networking expertise, highlighting the progress of PeerDAS.
- PeerDAS, a prototype for Data Availability Sampling, is crucial for Ethereum's scalability and decentralization through sharding.
- BitMine Immersion Technologies has significantly increased its Ethereum holdings, viewing it as a strategic investment in the network's future scaling capabilities.
Top Stories
