Treasury inspects 60 entities and cryptocurrency trading websites

Last year we were able to see the tremendous growth of the cryptocurrency market. Virtual currencies have created a madness in the market that has not been seen before. Although in 2018 it seems that the market is experiencing bad times, largely due to the regulations of each country. Now, in Spain, the Treasury will also take action on the matter.

Treasury inspects 60 entities and cryptocurrency trading websites

Since it has been announced that they are going to inspect 60 entities and websites that are dedicated to the sale and purchase of cryptocurrencies, including Bitcoin. They are investigated to determine that fraud is not being committed in these operations.

Treasury focuses on cryptocurrencies

In this list are some 16 financial entities, of which the name is not yet known. Some of them are based in Spain, while others are based abroad. The Treasury requests information about their bank accounts and the transactions they have carried out. Especially those bank accounts in which transfers have been made to exchange portals.

They also seek information on account holders and transaction amounts. Cryptocurrency exchange portals are also currently under investigation. So it is a very broad operation within the sector. In addition to having requested information from some 40 companies that have made payments in cryptocurrencies.

One of the main reasons is that transactions with virtual currencies are often anonymous in many cases. So they are usually used in transactions of doubtful legality. Something that the Treasury wants to avoid, and therefore they carry out this inspection. In addition, they do not rule out taking additional measures soon.

Source The Economist