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The Spanish Government Wants To Include Cryptocurrencies In The Criminal Code


cryptonews.net 29 November 2022 14:37, UTC
Reading time: ~2 m

The parties of the ruling coalition – the Spanish Socialist Workers' Party (PSOE) and Unidas Podemos – submitted to Parliament a proposal to amend the country's Criminal Code. The parties allege that "computer" crime has "grown exponentially" in recent years along with the growth of the Internet. But existing laws relating to fraud and other crimes make no mention of "intangible" forms of payments – only fiat money.

The time has come to include "immaterial means of payment" in the Criminal Code, according to the government. The government added that these “means” could be interpreted as “virtual currencies and other transferable cryptoassets.” Thus, it is necessary to create provisions for courts and police officers who are trying to prosecute criminals using cryptocurrency. The amendments will refer to "other payment instruments besides cash".

The government said it hoped the wording would be sufficient to provide judges and law enforcement with the "necessary flexibility" to adapt to rapid advances in technology. The amendments are likely to pass unhindered by Parliament, where they will be merged with a number of other proposed changes to the Criminal Code. The government also wants to increase penalties for insider trading offenses under EU law.

Image: Coincu News

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