Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • News
  • Regulation

Spanish Lawmakers Discuss Proposal to Enable Mortgage Payments with Crypto  

Alicia Maher August 3, 2021 3 min read

Talks are being made by Spanish legislators on a new law that would allow Spanish citizens to offset their mortgage bills with cryptocurrencies. The proposed law will also, cover among other items, innovations in the crypto and blockchain space, and artificial intelligence (AI), while conferring a legal toga on them. 

Spain’s new proposal is an indication that cryptocurrencies are gaining mainstream adoption. Introducing crypto payments to the mortgage sector, will line cryptocurrencies up for another use case and more relevance. Spain has been active as regards regulating cryptocurrency and blockchain tech. In July, Spanish authorities passed an anti-fraud law that imposes a fine on investors who fail to declare their crypto assets in line with tax reporting rules.


trade now

Lawmakers Discuss Tax Waivers for Blockchain Firms

However, the new law seems to adopt a mild approach towards regulations. The proposal even suggests tax waivers for organizations that use and create solutions built on crypto and blockchain innovations including smart contracts. Interestingly, the proposed law advocates for an integration between smart contracts and traditional banking institutions, such that banking operations can become automated. 

As lawmakers noted, they reasoned that automating banking frameworks would allow these emerging technologies to be used in performing usual activities such as administration of mortgage, and facilitate compensation and settlements gotten from insurance firms. The proposed law also assesses the possibility of citizens who have taken out mortgages on their houses to offset them with cryptocurrencies granting more importance to these crypto markets. 

Spanish Firms Can Create their Tokens to Obtain Mortgages

Also, the proposal also makes room for investment firms to create their own tokens to obtain mortgages from banking institutions. With respect to the tax incentives suggested by the proposed law, firms capitalizing on blockchain and crypto innovations could be given a waiver as high as 25%, depending on the prerequisite. Moreover, Spanish firms using cryptocurrencies could also be given waivers, thereby encouraging the adoption of cryptocurrencies within the country. 

The predominant perception over cryptocurrencies in Spain still borders on skepticism. Investors’ skepticism is informed by the anti-fraud law which requires them to declare their crypto assets after making some gains on it. However, the proposed law may gradually erase their perceptions over crypto investments. 

Meanwhile, the European Central Bank is researching a central bank digital currency that will garner massive adoption across EU member states. The national bank of Spain has not shown any willingness to introduce the country-backed CBDC. Perhaps the proposed law, if approved, will pave the way for the emergence of innovations both in the crypto and blockchain sector including a CBDC announcement from the Spanish government. 

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Mastercard is Ready to Explore the Crypto Market
Next: Coinjar And Mastercard Collaborate To Create Crypto Cards For Aussies

Related Stories

El Salvador’s BTC City Wins Global Award For Its Architectural Design
3 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Cryptocurrency
  • News
  • Regulation

El Salvador’s BTC City Wins Global Award For Its Architectural Design

January 30, 2023
2023 Crypto Regulation Predictions For The US, UK, and Europe – Report
3 min read
  • Blockchain
  • CBDC (Central Bank Digital Currency)
  • Crypto Taxation
  • Crypto Trading
  • Cryptocurrency
  • News
  • Regulation

2023 Crypto Regulation Predictions For The US, UK, and Europe – Report

January 30, 2023
Sam Bankman-Fried Seeks Restoration of Access to FTX’s Cryptos 
3 min read
  • Crypto Trading
  • Cryptocurrency
  • News
  • Regulation

Sam Bankman-Fried Seeks Restoration of Access to FTX’s Cryptos 

January 30, 2023

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$23,125.00
-2.01%
ethereum
Ethereum (ETH)
$1,581.16
-2.28%
tether
Tether (USDT)
$1.00
0.06%
usd-coin
USD Coin (USDC)
$1.00
0.12%
binancecoin
BNB (BNB)
$307.43
-2.81%
ripple
XRP (XRP)
$0.402339
-2.79%
binance-usd
Binance USD (BUSD)
$1.00
-0.21%
cardano
Cardano (ADA)
$0.381313
-2.41%
dogecoin
Dogecoin (DOGE)
$0.086568
-3.91%
polkadot
Polkadot (DOT)
$6.29
-4.77%

Recent Posts

  • El Salvador’s BTC City Wins Global Award For Its Architectural Design
  • 2023 Crypto Regulation Predictions For The US, UK, and Europe – Report
  • Sam Bankman-Fried Seeks Restoration of Access to FTX’s Cryptos 
  • MATIC Holder Makes $4M From an $80k Investment as the Token Surges by 50%
  • SBF Seeks Access To FTX Assets, Claiming He Should Not Be Restricted
  • Hackers Compromise Azuki’s Twitter Account, Promote Phishing Links
  • Prime Trust Cease Operating in Texas Offices Before February
  • El Salvador Innovative Bitcoin City Recognized at an International Architecture and Design Event
  • FTX’s Ex-Leadership Maxed Out Contributions to New York Congressman
  • Matrixport Downsizing 10% of Marketing Team, Cites Crypto Uncertainty and Stringent Regulations
  • Wylie Aronow Co-Founder Yuga Labs Seeks Medical Leave Citing Health Complication
  • Amazon Set to Launch New NFT Initiative on Its Platform
  • CFTC Wants More Jurisdiction Over the Crypto Space; Here’s What the Commission Has Been Up to
  • Aave Protocol Announces Launch of New Version, Aave V3
  • Korean Authorities Order The Arrest Of Bithumb Crypto Exchange Owner

Categories

You may have missed

El Salvador’s BTC City Wins Global Award For Its Architectural Design
3 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Cryptocurrency
  • News
  • Regulation

El Salvador’s BTC City Wins Global Award For Its Architectural Design

January 30, 2023
2023 Crypto Regulation Predictions For The US, UK, and Europe – Report
3 min read
  • Blockchain
  • CBDC (Central Bank Digital Currency)
  • Crypto Taxation
  • Crypto Trading
  • Cryptocurrency
  • News
  • Regulation

2023 Crypto Regulation Predictions For The US, UK, and Europe – Report

January 30, 2023
Sam Bankman-Fried Seeks Restoration of Access to FTX’s Cryptos 
3 min read
  • Crypto Trading
  • Cryptocurrency
  • News
  • Regulation

Sam Bankman-Fried Seeks Restoration of Access to FTX’s Cryptos 

January 30, 2023
MATIC Holder Makes $4M From an $80k Investment as the Token Surges by 50%
2 min read
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • News
  • Polygon (MATIC)
  • Price Analysis

MATIC Holder Makes $4M From an $80k Investment as the Token Surges by 50%

January 30, 2023
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%