Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. Each and every one of our writers has an active tipping widget.
  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

Spain Central Bank of Spain Warns Citizens Against Using Bitcoin

written by

Support free journalists: > send a tip

Banco de Espana, the central bank of Spain, has warned Spanish citizens of the risks associated with investment in cryptocurrencies according to a post published on its official blog.

The bank believes that “unregulated cryptocurrencies” pose a grave threat to investors due to their volatility, anonymity and lack of regulations. This conventional institutionalized response from the bank despite government assurances of sensible regulations show the lack of trust in the regulatory setup towards the new asset class.

The central bank states that cryptocurrencies like Bitcoin do not have the Deposit Guarantee Fund, which is a common practice enforced by banking regulator for the benefit of investors and depositors. It also points to the age-old argument that cryptocurrencies are not a legal tender and thus cannot be redeemed by investors at any point, thus posing risk and uncertainty. The bank claims that in the event of buying goods or services with cryptocurrencies, it would seemingly be an impossible mission for the buyer to redeem or ask for a replacement if the goods or services are not as described in the advertisement or description.

Coming directly from governor Pablo Hernandez de Cos, the public cautioning goes one step further and describes the regulatory challenges posed by cryptocurrencies. The definition of cryptocurrencies, while evolving, is still not unanimous even within the European Union. All in all, the document warns citizens regarding crypto because of high volatility, cybersecurity risks, and weak consumer rights.

While the ruling Partido Popular party is reportedly working on a bill to have cryptocurrency and blockchain regulation in the country, the move will definitely collide with the ultra-conservative behavior shown by Spain’s banking regulators. While blockchain is being implemented at a rigorous pace at the institutional level with the example of the Spanish bank BBVA announcing a blockchain-recorded syndicated loan, the regulatory clarity presents several challenges.


Follow on Twitter: @bitcoinnewscom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy:

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter