Spain to Share Data of Users From Domestic Crypto Businesses With European Union Countries

Spain to Share Data of Users From Domestic Crypto Businesses With European Union Countries


The Spanish government doesn’t stop imposing its tough stance on cryptocurrencies, as another rule comes to strengthen the existing ones. A royal decree recently enacted aligns current regulations with the European Union’s directives regarding anti-money laundering (AML).

Rule Aligns With the European AMLD5 Policies

According to the decree published in the state official newsletter, Spanish laws now follow the directive 2018/843, commonly known as AMLD5. Specifically, crypto exchanges and custodial firms must share customers’ data with the whole European bloc.

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That said, domestic crypto businesses should be registered with Spain’s authorities as “new obligated subjects” to comply with the rule. An excerpt of the decree reads:

The creation of this registry is accompanied by the establishment of an obligation for legal persons and entities without legal personality to obtain, keep and update this beneficially owned information and provide it to authorities and obligated subjects. In this context, both the data and information must be kept in this registry and

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