Cryptocurrency

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 <p class="is-style-lead">Spanish <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency company Bitnovo conducted research to understand how Spanish citizens see <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency growth in the country.</p> 
 <p>The adoption of cryptocurrency in Spain is growing rapidly. According to data provided by Statista, Spain ranks 22nd internationally in cryptocurrency adoption, with 15% of the population compared to 10% in 2019.</p> 
 <p>The research showed that 60.7% of Spanish citizens are motivated to buy cryptocurrencies for long-term investments, 35.7% to make payments, 21.4 % for short-term speculation, and 17.9% to buy cryptocurrencies out of curiosity.</p> 
 <p>The research also aims to understand how <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency evolves as a new payment method in Spain.</p> 
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 <h2 class="wp-block-heading" id="cryptocurrency-as-a-payment-method">Cryptocurrency as a payment method</h2> 
 <p>Bitnovo understood that cryptocurrency is becoming a popular payment method; the report found that 1.4% make payments with credit or debit cards, 50% with cryptocurrencies, 39.3% with Bizum, and 35.7% with bank transfers. The report shows that cryptocurrency is the second-most-used payment method in the country.</p> 
 <p>Finally, the report done by the company tried to understand the motivation behind <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency purchases. The report indicated that 60.7% of people in Spain are motivated to buy <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies for long-term investments, 35.7% to make payments, 21.4 % for short-term speculation, and 17.9% to purchase <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies out of curiosity.</p> 
 <p>The research concludes that most Spanish people see <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency as a long-term investment asset for savings.</p> 
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 <h2 class="wp-block-heading" id="crypto-regulations-in-spain">Crypto regulations in Spain</h2> 
 <p>The regulatory landscape for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency in Spain is still green. There is a lack of internal regulations regarding specific AML and finance regulations for the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> industry.</p> 
 <p>If there is an issue regarding AML topics, the European MiCA regulations should be applied. If a cryptocurrency is defined as a security, it will fall under the jurisdiction of the financial regulator known as the CNMV.</p> 
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Bitnovo reveals Spain’s rapidly increasing crypto adoption

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