Spanish lawmakers turn to Blockchain to improve the country's administration

The Spain again demonstrates its support for the Blockchain technology. While the government has planned tax breaks for companies related to emerging technology and crypto-scholarships earlier this year, the Partido Popular (PP), a ruling party, recently proposed the use of Blockchain technology in public administration. It would improve the transparency of the public policy of the country's administration, while increasing efficiency.

Optimize transparency and increase efficiency

CriptoNoticias, a local website dedicated to cryptocurrencies, reported that the PP is supporting a new blockchain bill.

Presented 22 June 2018 and published on the site of the legislative branch of the country four days later, the new regulation should increase the transparency of political and public spheres. The regulatory initiative also aims to increase the efficiency of the administrative process.

However, the Spanish Congress has not yet considered or approved the bill, it is still pending review.

Regulatory initiatives

Spanish lawmakers have made several attempts at regulation. The Partido Socialista Obrero Español (Spanish Workers' Socialist Party, PSOE) presented a bill authorizing a study of the trends and effects of the adoption of digital currencies in the Senate, last March. He has tried to attract cryptocurrency companies within the country so that Spain can take advantage of this nascent industry.

Mariano Rajoy, the former prime minister, suggested tax breaks for crypto-scholarships. The Ciudadanos Party then proposed concise regulations governing virtual currency businesses in March.

The PSOE Party , convinced of the innovation the Blockchain could bring , studied the regulations of other countries in order to establish a regulatory structure favorable to this industry.

Although no government response has been reported so far, they are expected by the end of the year.

What do you think of the Spanish bills on Blockchain and crypto-currencies? Let us know in the comments section below.