Spain is set to take the lead in implementing the European Union’s comprehensive cryptocurrency regulatory framework, the Markets in Crypto-Assets (MiCA) Act. The Spanish Ministry of Economy and Digital Transformation announced that the MiCA Act will come into force at a national level in December 2025 – six months earlier than the EU’s general deadline of July 2026. This accelerated timeline will reduce the transitional period from 36 months to just 18 months for Spain.
The decision to fast-track MiCA implementation was made to provide legal certainty and enhanced protection for Spanish investors involved in cryptocurrencies. This bold move aims to boost legal security and protection for Spanish crypto investors.
Leading global exchanges have also secured regulatory green lights in Spain. Coinbase obtained an Anti-Money Laundering compliance registration from Spain’s central bank, while Kraken also obtained a virtual asset service provider registration. These actions demonstrate Spain’s dedication to ensuring robust AML and investor protection measures in the cryptocurrency space.
Moreover, the Spanish central bank, Banco de España, has joined other European financial institutions in exploring the advantages of a digital euro. The central bank believes that the digitalization of the economy and society requires a digital currency to fully exploit its benefits. This aligns with the broader trend of central banks worldwide exploring digital currencies as a means to stay relevant and efficient in an increasingly digital financial landscape.
