Mara Muoz: Spain Should Develop Into A Mining Hub

Mara Muoz, a Spanish politician and member of the ciudadanos party in the country’s Congress, has suggested a national plan. Following the demonstrations in Kazakhstan, it would attract Bitcoin miners and other cryptocurrency-related activities.

Mara Muoz announced her plan on Twitter, demonstrating that Spain should position itself as a potential bitcoin mining hub.

Additionally, the politician provided a comprehensive plan that detailed the development of a national policy in this area.

We recommended last year the establishment of a National Strategy for Cryptocurrencies and a high-level conference comprised of industry experts to create a regulated market that is also flexible, useful, and safe for cryptocurrency mining and usage.

Protests in Kazakhstan reached a boiling point a few days ago. Because of this, the internet was shut down throughout the nation, and the hashrate of Bitcoin dropped precipitously. Because Kazakhstan is one of the top nations in the world when it comes to bitcoin mining.

As we previously reported, the Spanish government recently enacted a controversial law requiring Spaniards to reveal their “foreign cryptocurrency assets.” The current legislation seems correct in its assumptions: it is an effort to eliminate bitcoin frauds, particularly those conducted on platforms outside the nation. However, the notion is fraught with the dispute.

Failure to declare cryptocurrencies kept outside of the United States (specifically, on international exchanges) will result in a $ 5900 penalty. Contravening the new legislation is a crime, and the only difference is that such penalties may be enforced indefinitely. At the very least, for citizens who hold bitcoins on numerous foreign-registered sites.

Read Also: A Russian Public Organisation Has Targeted Binance

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

- Advertisement -

Comments are closed.