Spain Wants To Attract Blockchain and Cryptocurrency Companies With Lower Taxes

Different countries are starting to to promote cryptocurrency and blockchain investments. One of the chosen ways to do it is by reducing taxes and creating special economic zones. Spain wants to benefit from this industry by creating a favorable environment for blockchain companies. According to Bloomberg, Prime Minister Mariano Rajoy is preparing possible tax breaks to attract blockchain investments.

Spain Attracts Cryptocurrency and Blockchain Investments

The lawmaker preparing the bill, Teodoro García Egea, says that it is in Spain’s interest to attract these firms. Blockchain can be used in different fields like health, finance and education. Rajoy’s People’s Party is considering a wide regulation that would make it attractive for entrepreneurs to use blockchain technology and carry out Initial Coin Offerings (ICOs). Spain

During an interview, García Egea said that it will be a key factor the level of the digitalization of companies. That’s why they want to get the legislation ready during this year.

Blockchain has been growing potentiated by cryptocurrencies. Different enterprises from different countries are using this technology in order to improve products and services. At UseTheBitcoin we have written several times how this technology is disrupting many economic areas.

The bill that is being analysed may include a threshold below which cryptocurrency investments would not need to be reported to the regulatory office. According to García Egea, cryptocurrency investors will be protected by certain rules in order to reduce risks.

Slovenia Opens Doors to Blockchain Technology

There are several countries that are working in order to provide benefits to blockchain enterprises. Slovenia is one of these countries. Prime Minister Miro Cerar and other important ministers attended a meeting with different blockchain start-ups on February the 14th.

The Slovenian government is trying to promote new technologies as a state policy. The intention is to place Slovenia at the forefront and one of the most recognized blockchain destinations in Europe. That means that several European countries are moving towards blockchain technology and cryptocurrencies. By embracing the technology, Spain and Slovenia will be for sure benefited in the middle and long term.

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