A First in Europe: A Crypto-Friendly City is Being Designed in Spain

The City Council Ministry of Torrevieja in Spain officially announced that it will take steps to become ‘Europe’s first crypto-friendly city.

Torrevieja, the tourism hub in the Alicante province of Spain, has taken a step towards embracing cryptocurrencies by announcing its goal to become ‘Europe’s first crypto-friendly city.’

Local Commerce to Digitize

The project, initiated through collaboration between the Torrevieja City Council Ministry of Commerce and the Torrevieja Small and Medium-Sized Traders Association, has been officially announced. With this project, the aim is to digitize local commerce using blockchain technology between the city’s local government and businesses.

Spanish Citizens Obliged to Declare Crypto Assets!

Furthermore, the efforts of the Spanish government to collect taxes through cryptocurrencies are gaining significant attention. With new laws in place, residents in Spain are required to declare their crypto assets held on foreign platforms by March 31.

Source: Cointelegraph

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