Business News Asia
Muñoz has been a tireless advocate for Spain as a hub and destination for Bitcoin, according to a tweet on Friday.
As the Bitcoin mining industry grows exponentially, María Muñoz, the deputy from Spain’s Ciudadanos party, has proposed a bill to allow Spain to mine Bitcoin after the Internet collapse in Kazakhstan.
The protests in Kazakhstan have affected the world, as well as Bitcoin, which led her to propose Spain to position itself as a safe destination for investment in cryptocurrencies. This is intended to develop the booming sector safely and efficiently in Spain.
As the volatility of the bitcoin hash rate has shown time and time again. The mining infrastructure is not geographically bound and can react flexibly, as seen after the mining ban in China.
PrimeBlock’s chief legal officer, Alan Konevsky, explained the mining changes this way: “Crypto mining companies, including companies relocating after Chinese regulatory changes. Established in countries such as Kazakhstan and Kosovo because electricity is much cheaper than in North America.”
However, Muñoz hopes Spain will expand these bitcoin-friendly factors, although one of the biggest obstacles to BTC remains politics.