Spain is ready to help miners from Kazakhstan

The protests have taken a big toll on the bitcoin mining industry

10.01.2022 - 09:45

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What’s new? Amid the protests in Kazakhstan, Spain is seeking to attract miners from other countries. Maria Muñoz, a member of Spain's Congress of Deputies, said on Twitter that her country is the safest place to invest in cryptocurrency.

Las protestas en Kazajistán tienen repercusiones en todo el mundo: también para el #Bitcoin.Proponemos que España se posicione como destino seguro de las inversiones en criptomonedas para desarrollar un sector flexible, eficiente y seguro. pic.twitter.com/E2HUu3TtZj— María Muñoz (@mariadelamiel) January 7, 2022

Why is Spain safe for cryptocurrencies? The internet and power cuts because of the protests in Kazakhstan have caused bitcoin's hashrate to decrease. According to Muñoz, Spain is ready to provide stable support to all crypto investors.

The country has long been active in using digital assets and regulating them. Since last year, all crypto companies in Spain are required to register with an electronic registry, and the crypto investors are required to declare their income. In addition, the country's banks are actively offering cryptocurrency to their customers as an investment vehicle.

“We see Spain as a safe destination for investments in cryptocurrencies, where businesses are provided with opportunities to develop this sector effectively.”

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