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The Economic and Commercial Commission of the Spanish Parliament received this week a non-legislative proposal to include blockchain technology in the operation of public administration.
Proposal number 161/003428, entitled "] Proposal No. of Law on the Introduction of Blockchain Technology in the Public Administration in Spain " was presented [19659005] June 22 and received the qualification of "publication" four days later, although for now it is not available for public reviews.
According to the website of the Congress of Deputies of Spain, 133 deputies of the People's Parliamentary Group have raised the possibility of using distributed accounting technology in public administration. A bill that is configured as the second ecosystem-related blockchain proposal received by the Economic Committee in the first half of 2018.
Previous Proposals
It is important to note that the previous proposal received by the committee came opposite parliamentary group, Parliamentary Citizens Group chaired by Albert Rivera. Citizens have proposed the past March to establish clearly what information must be provided by the mandatory "financial intermediaries" to the Spanish Tax Agency.
This proposal, also of a non-legal nature, sought clarification from the tax authorities to avoid sanctions against Spanish citizens because of the business tax on cryptocurrencies.
The Finance Committee responded to this request by regulating the creation of an independent authority for the protection of consumers and financial investors; as well as establishing mechanisms to ensure "the fulfillment of the information obligations imposed on the tax agency by financial intermediaries in the purchase and sale of cryptocurrencies. "
Apparently, initiatives related to cryptocurrencies are in harmony with the three main political parties of Spain ; because the Spanish Socialist Workers Party (PSOE) also brought its proposal to the discussion, but the Senate of the European country.
On March 23, the PSOE proposed a motion to study the trends and effects of cryptocurrencies through measures adopted in other countries, as well as global and regional initiatives, all for the purpose to take decisions taking into account the warnings of the National Stock Exchange Commission (CNBV) and the European Securities and Markets Authority (ESMA); this is due to the fact that both financial authorities have warned of the dangers badociated with financial activity that is acting without regulation.
From different angles in Spain, they approached last year the regulation of activity related to cryptocurrencies and the implementation of blockchain technology. A panorama of approach that coincides with that of various countries in the world, being an example of the United Arab Emirates.
The United Arab Emirates aims for 2020 to migrate all public administration transactions to a blockchain platform that offers security, efficiency and long-term cost reduction. An ambitious goal for which they have been working since the beginning of 2017 through Accenture and other development partners to turn Dubai into a blockchain city.
In the case of Spain, we will have to wait to see which direction the competent authorities will eventually take.
Featured image by monsitj / stock.adobe.com
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