The Spanish Ministry of Economy and Digital Transformation has announced that the Markets in Crypto-Assets (MiCA) Act, the first comprehensive European Union crypto framework, will be implemented on a national level in December 2025.
In a release published by the Ministry on October 26, it was revealed that the first vice president of Spain, Nadia Calviño, met with the president of the European Securities and Market Authority to discuss advancing the implementation of MiCA.
The deadline for implementing MiCA across all 27 EU member states is July 2026. However, Spain aims to shorten this transition period to just 18 months in order to provide greater protection and legal certainty for Spanish investors in crypto-assets.
Local Licenses for International Crypto Exchanges
Meanwhile, several large international crypto exchanges have obtained local licenses in Spain. Coinbase secured an Anti-Money Laundering compliance registration from Spain’s central bank in September, while Kraken received a virtual asset service provider registration. Crypto.com also obtained regulatory approval earlier this year.
Banco de España Supports Digital Euro
This month, Banco de España publicly expressed support for a digital euro, joining other European banking institutions in exploring the potential benefits of digital currencies. The central bank emphasized that physical cash limits the advantages offered by the growing digitalization of the economy and society.
Hot Take: Spain Takes Steps Towards Crypto Regulation
Spain is making significant progress in regulating cryptocurrencies with the forthcoming implementation of the MiCA Act. By shortening the transition period to just 18 months, Spain aims to provide increased protection and legal certainty for investors. Additionally, international crypto exchanges like Coinbase, Kraken, and Crypto.com have obtained licenses from Spain’s central bank, demonstrating growing acceptance and regulation within the country. Furthermore, Banco de España’s endorsement of a digital euro aligns with the global trend towards exploring central bank digital currencies. Spain’s proactive approach to crypto regulation positions the country as a potential leader in the European crypto market.
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