Share this article
BBVA: Blockchain Regulation Needs to Move Beyond Bitcoin
Spanish banking group BBVA has released a new research note that argues for more immediate blockchain regulation.
By Pete Rizzo
Updated Sep 11, 2021, 12:50 p.m. Published Jan 3, 2017, 2:06 p.m.
Spanish banking group BBVA has released a new research note on the subject of bitcoin and blockchain regulation.
Published on 2nd January, the note opines on the current state of regulation, arguing that rules for private blockchain use cases lag behind guidance for bitcoin – the digital currency it called the one blockchain application "in practical operation".
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The document's author, BBVA digital regulation manager Javier Sebastián, contends that regulation will be needed to oversee enterprise blockchain use cases. However, he acknowledged that the current "exploratory phase" the technology is in makes this difficult to address.
Overall, the note argues for more immediate action to clarify issues that could hold back the launch of blockchain projects, calling for "a legal framework in which its legal nature is defined, including the applicable jurisdictions and laws, as well as where responsibility lies in the event of error or malfunction".
Sebastián writes:
"There are some questions that are common to all cases, deriving from the unique characteristics of blockchain, which should be addressed as soon as possible."
Elsewhere, the author contends that clarity is needed in regards to the legal validity of records stored via a blockchain and whether smart contracts are legally enforceable.
The research is the latest from the blockchain bank that emerged as one of the earliest institutional movers on the technology, investing in Coinbase and serving as a founding member of blockchain consortium R3CEV.
Man with pen image via Shutterstock
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
IMF Flags Stablecoins as Source of Risk to Emerging Markets, Experts Say We Aren't There Yet
The IMF warns that USD-pegged stablecoins could undermine local currencies in emerging markets by facilitating currency substitution and capital outflows.
What to know:
- The IMF warns that USD-pegged stablecoins could undermine local currencies in emerging markets by facilitating currency substitution and capital outflows.
- Despite concerns, experts argue that the stablecoin market is still too small to have a significant macroeconomic impact.
- Stablecoins are primarily used for crypto trading, and their market size remains small compared to global currency flows.
Top Stories
