Andorra Telecom has entered into partnership with Spanish digital economy-focused non-profit Alastria to integrate blockchain technology into its internal processes, Spanish-language news outlet Diari d’Andorra reported on Aug. 1. Alastria is a consortium of over 800 non-profit organizations that launched Spain’s first national multi-sector blockchain network in a bid to facilitate the development of digital economy through blockchain. “To reinforce the technological pillar” Alastria will enable Andorra Telecom to deploy its blockchain network with its own node. Jordi Nadal, director general of Andorra Telecom, said that "the agreement with Alastria allows us to reinforce the technological pillar and allows developments …

Spanish law enforcement pointed out that Bitcoin (BTC) automated teller machines (ATMs) show a gap in European Union’s Anti-Money Laundering (AML) regulations, Bloomberg reports on July 11. Per the report, Spanish police uncovered a local gang that used Bitcoin ATMs to transfer more than 9 million euros ($10 million) for drug traffickers in Colombia and other countries. Bloomberg cites anonymous representatives of Guardia Civil (a type of Spanish law enforcement) alleging that the group hired two machines from trading platforms and installed them in an office in Madrid. The office in question masqueraded as a center for remittances and cryptocurrency …

Spanish law enforcement arrested 35 people for allegedly counterfeiting banking cards and laundering the proceeds through bitcoin (BTC), local media La Verdad reports on June 14. Per the report, the organization obtained over €600,000 ($674,000) and laundered over €1 million ($1.2 million) using bitcoin. Furthermore, the Command of Alicante reportedly solved a total of 1,020 connected cybercrimes during the operation. The alleged actions of the suspects — who are from Equatorial Guinea, Spain, Nigeria, Cameroon and Morocco — had a total of 219 victims in Spain, with 20 more in Israel, Denmark, Germany, France and Greece. According to La Verdad, …

In Spain, eight people have been arrested for allegedly operating a money laundering scheme involving cryptocurrencies, Europol announced in a press release on May 8. Per the release, the group laundered money by exchanging fiat currency to crypto assets. The individuals reportedly used cryptocurrency ATMs and split funds into smaller sums to introduce them into the financial system without having the transactions reported as suspicious. Participants reportedly carried cash, depositing it in several bank accounts and moving it around through different accounts before exchanging it for crypto. Large transfers were sent to accounts from corporate entities owned by the alleged …

The Spanish National Securities Market Commission (CNMV) has affirmed that it has not authorized any entity to operate an initial coin offering (ICO) with the agency’s official sanction. The news was reported by Cointelegraph en Español on March 27. The regulator issued an official announcement on March 26, which underscored that the agency had to date neither approved nor exercised any power of authorization or vetting of any project in the ICO sector. CNMV thus stressed that any white paper or other documentation sent to prospective ICO investors should include a disclaimer clarifying that it has not “been subject to …

Major Spanish stock market operator Bolsas y Mercados Españoles (BME) has completed its first blockchain pilot for electronic certificates of collateral pledges, according to an official press release published on March 15. Implemented along with Renta 4 Banco, which is the only investment services firm listed on the BME, the new pilot intends to eliminate the use of physical certifications by digitizing all processes and providing network participants with real-time access to data. The pilot’s proof-of-concept (PoC) consisted of the release of collateral pledged by Renta 4 Banco to cover customer’s positions at BME Clearing, BME’s central counterparty. According to …

Spain’s biggest multinational telecommunications company, Telefonica, has partnered with Microsoft to expand its digital innovation using blockchain and artificial intelligence (AI), a press release confirmed on Feb. 25. Telefonica, which has sealed multiple blockchain-related partnerships in recent months, will now leverage Microsoft’s Azure platform to develop new services for the telecoms industry. The deal emerged as part of the ongoing World Mobile Congress in Barcelona. “Together, we will apply the power of Azure and Azure AI to create new, innovative experiences for millions of Telefónica customers around the world and shape the future of Telefónica’s network,” Microsoft CEO Satya Nadella …

Spanish cryptocurrency mining startup CryptoSolarTech will return $68 million raised during its initial coin offering (ICO). A screenshot of an official letter sent to investors was posted on Twitter Wednesday, Feb. 20 by Spanish IT lawyer Sergio Carrasco. CryptoSolarTech apparently aimed to build a crypto mining facility powered by solar energy in Southern Spain, but failed to get a building permit. Citing reasons beyond their control, the founders of the project promised to return funds within 60 days. The startup also claimed that it is not responsible for any of the tokens purchased after Feb. 19. In June 2018, CryptoSolarTech …

Spain’s largest multinational telecommunications company, Telefónica, has announced an initiative to support entrepreneurs in innovative technologies, such as blockchain and artificial intelligence (AI), according to an official press release published on Feb. 19. The Madrid-based company — also one of the largest telephone operators and mobile network providers in the world — has launched its first “Open Innovation” call of this year via its tech incubator subsidiary, Telefónica Open Future. The month-long initiative seeks to support startups and innovative projects ready to "revolutionize traditional ecosystems through new technologies,” such as blockchain, AI, virtual reality and big data. A translation of …

Spain’s second-largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), has announced the launch of the first blockchain-backed platform for structured green bonds. The news was announced in a press release published on Feb. 19. BBVA has closed the deal with Spanish insurance house Mapfre, which has invested 35 million euros (approximately $40 million) to finance sustainable products. To close this deal, BBVA has “issued the first structured green bond using blockchain technology to negotiate the terms and conditions,” the press release states. The press release underlines that the funds have been specified for the financing of green projects, under the umbrella …

An official from Spain’s central bank, the Bank of Spain (BDE) believes that Bitcoin (BTC) is unable to resolve the problems faced by major payment systems. BDE’s Deputy General Director for financial innovations and market infrastructure, Carlos Colesa, gave his opinion on the leading cryptocurrency in a report published on Sunday, Feb. 17. The study dubbed "Bitcoin: a solution for payment systems or a solution in search of a problem?," is marked as an “occasional paper,” according to Cointelegraph en Español. This means that the Bank of Spain does not necessarily share the stance of the author. Colesa compared Bitcoin …

One of Europe’s largest banks, Banco Santander, and tech giant IBM have announced an agreement to accelerate the bank’s development of technologies such as blockchain. The news was announced in a press release published on Feb. 13. The five-year global technology agreement is reportedly aimed at enhancing the financial institution’s services using emerging technologies — such as blockchain, artificial intelligence and big data — provided by IBM. The deal between IBM and the largest financial and credit group in Spain is reportedly valued at approximately $700 million. The move aims to reduce the bank’s annual costs on IT spending and …