In a significant development, Spain is set to implement the first comprehensive European Union crypto framework, the Markets in Crypto-Assets [MiCA] Act, on a national level, starting in December 2025. The announcement was made by the Spanish Ministry of Economy and Digital Transformation, marking a pivotal step towards regulating the burgeoning crypto market within the country.
This move comes after a meeting between Spain’s First Vice President, Nadia Calviño, and the President of the European Securities and Market Authority, Verena Ross. During the meeting, discussions revolved around Spain’s proactive approach to the implementation of MiCA. The nation has expressed its willingness to accelerate the adoption of MiCA, which has a general deadline set for July 2026 across all 27 member states of the European Union.
What sets Spain apart in this initiative is its ambitious plan to reduce the transitional period specified in the MiCA framework. While member states were granted a 36-month transitional period from the date of MiCA’s publication in the Official Journal of the European Union in June 2023, Spain aims to reduce this period to just 18 months. This move underscores its commitment to swiftly adapting to the evolving crypto regulatory landscape, aligning with the broader EU framework.
Simultaneously, the crypto industry in Spain has witnessed significant milestones. Major international crypto exchanges operating in the country have secured local licenses. Notably, Coinbase, one of the world’s leading crypto platforms, obtained an anti-money laundering compliance registration from Spain’s central bank in September. Similarly, Kraken, another prominent crypto exchange, attained a virtual asset service provider registration, further solidifying the local crypto market’s legitimacy.
Spain’s Bet On Digital Euro
Furthermore, Banco de España recently joined several European banking institutions in exploring the potential advantages of the digital euro. In a public statement, the bank emphasized that the conventional physical cash format restricts the exploitation of benefits offered by the growing digitalization of the economy and society. This acknowledgment highlights the nation’s proactive stance in embracing digital financial innovations.
As Spain prepares to usher in the MiCA Act and engages in fruitful collaborations with key regulatory bodies, the country is positioning itself at the forefront of cryptocurrency regulation within the European Union.