Spain’s central bank eyes banks’ plans regarding cryptocurrencies

The Bank of Spain has requested information from the country’s leading financial institutions about plans related to cryptocurrencies over the next three years. The report, by El Pais cites sources.

According to them, the aim of such a survey is to learn about “the evolution of organisations’ business models and what impact the ongoing digitisation and financial innovations may have on them.”

The regulator asked whether banks have business relationships with providers of cryptocurrency services and the extent of participation in “any financial technologies related to digital assets”, the publication noted. Institutions must also indicate whether they have plans to issue tokens or to provide trading and custody services for cryptocurrencies.

Earlier it was reported that Spain’s National Securities Market Commission (CNMV) and the central bank, alongside the ЕЦБ will be granted powers to regulate the digital assets market in the country.

In August the CNMV warned 12 companies about operating without registration. The list included cryptocurrency exchanges Huobi and Bybit.

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