Hong Kong continues to refine the manner in which cryptoassets and activities are regulated.
Crypto-assets, cryptocurrencies and/or related service providers have not been traditionally regulated in Spain. These products or services have only been captured to the extent they were embedded in other financial products (e.g. funds or derivatives) or in case they could qualify as a financial instruments directly (e.g. security tokens).
Crypto around the World covers cryptoasset regulations across various jurisdictions by answering 20 questions. Drawing on the global reach of our regulatory expertise at Baker McKenzie, this publication highlights developments and various approaches in Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) and cryptoassets regulation in EMEA, Asia Pacific, and the USA.
The Spanish Government recently issued a new royal-decree with the aim of protecting retail potential investors in digital financial instruments and assets (Royal Decree). This seeks to counter the increase of mass-market advertising campaigns in relation to the selling of crypto-assets, including bitcoin and other assets using Distributed Ledger Technology (DLT) targeted at the Spanish market.