Spain Is Alternative For BTC Miners

January 11, 2022

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Maria Muñoz, a Spanish deputy from the country’s Congress, wants to position Spain as a reliable alternative to miners that are facing a dire situation in Kazakhstan, after their internet service was suspended, affecting their operative capacity. This caused a drop in the bitcoin hashrate, which some reports said fell 12% after these events.

Muñoz sent a letter to the congress, inquiring about the possible actions that Spain might take to attract fleeing miners, and about the impact this event has had on the Spanish mining sector. Maria Muñoz, a deputy of the Spanish Congress, has asked the institution to investigate the possibility that the government should benefit from the situation and take over the mining business of miners who are leaving Kazakhstan. This would be a way to support the local economy, and the country is already experiencing civil unrest and protests after a fuel price hike. . This is a good overview of the situation concerning the development of the crypto industry in Spain, and the impact it is having on the country’s mining operations. She also questions the data the Spanish government has on the subject.

Cryptocurrency, for Muñoz, is an old thing. She has been interested in it and its possible regulation in Spain since before the Kazakhstan situation. The deputy, who is part of the liberal faction from the Ciudadanos party, was included in a law proposal last October to design a national strategy for the cryptocurrency sector that would allow them to attract investors and protect citizens from cryptocurrency frauds. The proposal, as presented in local media, exposed that although the cryptocurrency market had an important growth in Spain last year, there was no specific institution to regulate the industry, and as a result.

In this situation, the party has proposed to create campaigns to inform citizens about what cryptocurrencies really are, and to coordinate efforts to regulate the industry with the European Union and cryptocurrency companies in Europe.

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