Spain: bitcoin should be regulated by the EU and not by the national government, says survey

Key facts

:

  • Poland, Spain and Germany make greater use of bitcoin for payments for goods and services.

  • 30% of Spaniards do not know whether their government or the EU should regulate cryptocurrencies.

A study by British pollster Redfield & Wilton Strategies, focusing on the regulations of bitcoin (BTC) and other cryptocurrencies in the European Union (EU), suggests that 43% of Spaniards prefer the rules on cryptoassets to be dictated by Brussels and not their own government.

Only 33% of Spaniards believe that regulations should be in the hands of the Spanish government, while the remaining 24% do not know who should dictate the rules on cryptocurrencies

in that country.

In contrast to the opinion of Spaniards, the poll indicated that the majority of Europeans give their support to national governments, rather than the EU to regulate cryptoassets.

“Pluralities or majorities in all countries surveyed, ranging from 49% in Hungary to 76% in the Netherlands, say their national government should determine national financial regulations,” the study

released on September 1 states.

According to the study, “a significant proportion of respondents” believe that the EU’s goal with the regulation of cryptocurrencies, is to increase “greater economic control” over the countries that make up the European community.

The survey was conducted between August 4 and 10 and evaluated the opinions of 31,000 respondents in 12 EU member states: Estonia, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, the Netherlands, Poland, Portugal and Spain, where 3,000 people were consulted.

Spain: bitcoin should be regulated by the EU and not by the national government, says survey Spain: bitcoin should be regulated by the EU and not by the national government, says survey 43% of respondents in Spain prefer EU regulations.

Poland, Spain and Germany give use to bitcoin

The survey also presented data regarding the use of cryptocurrencies as a means of payments for goods and services in Europe

.

In that regard, Spain ranks second on the list, after Poland and followed by Germany with 14% of respondents using bitcoin

for payment for goods and services, according to Redfield & Wilton Strategies.

“An average of 11% of Europeans say they have used cryptocurrencies to pay for goods or services, with proportions ranging from 7% in the Netherlands to 15% in Poland,” the paper exposes.

The study finds that the number of people who may make use of bitcoin and other cryptocurrencies will continue to grow in

in the coming months. They have determined that the lack of knowledge about cryptocurrencies is what is holding back their use among Europeans.

Europeans are not clear about a CBDC

On the issue of national central bank currencies (CBDCs), to “affirm the monetary independence” of the EU, respondents showed mixed feelings, although “a plurality were in favor to some extent,” EuroNews released.

The data indicated that people in countries such as Italy (41%), Greece (40%), Estonia (39%) and Spain (37%) would support the initiative for a cryptocurrency of their own. Conversely, the Netherlands showed that more respondents (37%) would oppose such a move.

In fact, CryptoNews reported that in Spain last June, a proposal for the creation of a public cryptocurrency issued by the Bank of Spain was presented to Congress.

The initiative promotes the evaluation of the feasibility of a public digital currency that would be pegged to the price of the euro and would be the first of its kind in Europe.