EU's MiCA Regulation Halts Banco de España's New Crypto Firm Registrations as of December 30, 2024, Transferring Authority to CNMV

The European Union's new cryptocurrency regulation, known as MiCA (Markets in Crypto-Assets), is set to significantly impact the registration of cryptocurrency companies in Spain. As of December 30, 2024, the Bank of Spain (Banco de España) will cease registering new crypto firms, transferring this responsibility to the National Securities Market Commission (CNMV). This transition marks a pivotal shift in the regulatory landscape for the crypto industry in Spain, as the CNMV will now oversee the authorization of these companies.