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Spanish authorities ask for personal data archives of 60 companies as part of cryptocurrency AML policy

06 April 2018 00:00, UTC
Spanish authorities ask for personal data archives of 60 companies as part of cryptocurrency AML policy

Through the last six months, there was not much news from Spain regarding the local digital currency market. The situation has changed today when a source in the government has directly confirmed the newest measures to CoinDesk.

The basic gist of these measures: sixty local companies (and more than ten of them are banks) are going to have to give the personal data of those who conducted cryptocurrency operations. No exact time periods are provided, at the press time it seems that they are demanding the data of all crypto traders the companies have ever served.

This big and unexpected event is a part of a large research on the regional market of digital currencies, the people behind this are also searching for money launderers. The governmental bodies responsible for the process are mainly those dealing with tax issues, this means that the potential tax evaders are also very likely to be the targets.

This is not the EU-scale anti-corruption campaign, although the Europol representatives have been seen voicing concerns over the cryptocurrencies and their ability to provide a safe haven for criminals. However, their American colleagues have noted that this haven might not be that safe after all.

Image courtesy of Humanature Studio / Adult Swim Games



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