Catalonia plans to create its own cryptocurrency

The crisis in Spain around the independence of Catalonia unexpectedly brings us some news on cryptocurrency topic. The leaders of pro-independence movement plan to follow the experience of Estonia on the digital residency program and even go beyond that by issuing the state cryptocurrency.

Estonia had to forget about its own “Estcoin” after the European Central Bank made clear they would not tolerate any state-issued competitor to euro within the European Union. However, the local authorities of Catalonia specifically state that cryptocurrency would allow them to avoid the control from central banks, Spanish central bank primarily, of course.

El Pais reports that the representatives of Catalonia’s structures responsible for internal economy have already consulted with Vitalik Buterin, who, as this media states, advised to create an ICO to launch a residency platform. But this requires additional confirmation, as previously, Mr. Buterin demonstrated a strict opposition toward initial coin offerings.