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
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
