The left-wing Spanish political coalition proposes the subcommittee to study Blockchain, Crypto


The Spanish left-wing political coalition Unidos Podemos called on the state to explore and implement the benefits of blockchain technology, the local news agency Europa Press reported on August 12th.

Podemos, formed by the leftist parties Podemos, Sinistra unitaria, Equo and others have suggested that the Spanish government establish a subcommittee responsible for the study of the potential of blockchain technology and the regulation of cryptocurrencies. Alberto Montero, the deputy of the political alliance, reported having registered the request in the lower house, along with a project plan.

The body focused on the blockchain would bring together public administrations, state authorities and civil servants as well as industry experts.

According to Montero, the initiative aims to explore the "enormous potential" of blockchain technology in terms of reducing the costs of government operations and increasing the level of security for social and economic transactions.

In addition, the alliance suggested to address regulatory approaches to the use of cryptocurrency in Spain. According to the report, digital currencies such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) are currently "located in a gray regulatory area".

The coalition also proposes to base policy on the results of the Observatory and Forum Blockchain of the European Union (EU), launched by the European Commission in February 2018.

Unidos Podemos is not the & # 39; the only political organization that recently suggested the adoption of blockchain in the government of the country. From the Spanish governing party, Partido Popular (Popular Party), proposed a bill for the use of blockchain in the public administration of the country.

Recently, two important Spanish public institutions, the Spanish Society of Authors and Publishers (SGAE) and the School of Telecommunications Engineering of Madrid (ETSIT-UPM) collaborated to apply the blockchain for digital copyright management.

In terms of cryptography, the Spanish Congress reported that they supported the UN for a draft regulatory framework to regulate blockchain technology and cryptocurrencies on May 30, 2018. The draft initiative, proposed by the People & # 39 ; s Party, suggests that the state cooperates with the National Securities Market Commission (CNMV) and the Bank of Spain to coordinate a common regulatory position on crypto in the wider European context.

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