The Nationwide Securities Market Fee (CNMV) is advancing within the supervision of bitcoin (BTC) and cryptocurrencies in Spain below the Cryptoasset Markets Regulation (MiCA), as confirmed by a member of the group on October 8 through the Merge Madrid 2025 occasion.
Raquel García Alcubilla, head of Coverage, Innovation and Sustainable Finance on the CNMV, mentioned: “We have now not reached 400 registrations but, however we do have just a few.”
The board participated within the panel “World regulators and crypto” at Merge Madrid, the place she pressured that This work “advances with agency steps” regardless of the technical complexity of providers comparable to staking and lending, in line with what was reported by Spanish media.
The regulatory supervision to which García Alcubilla referred licensed this 12 months entities such because the BBVA financial institution, which opened bitcoin buying and selling providers, and Bit2Me, which in July 2025 turned the primary Spanish bitcoin alternate with a MiCA license, as reported by CriptoNoticias.
Based on the CNMV web site, Spain already has 45 authorized registries of digital asset service suppliers (Psav).
García Alcubilla pressured that coordination between nationwide and European supervisors is important to keep away from asymmetries that hurt the competitiveness of the markets.
On this regard, Francisco del Olmo, deputy director of fintech and cybersecurity on the CNMV, accelerated the decision to motion when he identified that “every nation has totally different interpretations and this can’t be,” warning that Regulatory convergence avoids asymmetries that decelerate competitiveness.
In parallel, the worldwide debate, which additionally included the participation of the Monetary Market Fee (CMF) of Chile, additionally highlighted classes from Latin America.
At this level, all panel contributors agreed that worldwide harmonization and cooperation between supervisors are important to supply stability and confidence to the digital asset ecosystem.
