On Aug. 22, Cointelegraph en Español spoke with Daniel Pons Ayala, founder and chief information officer of Spanish startup Cresio. The company claims to be the first legal initial coin offering (ICO) operating in Spain.
This week was an important one for crypto adoption in the Spanish-speaking world, with reports of a government ministry working on a token in an Argentinian province and a Venezuelan state airline accepting the country’s controversial Petro coin.
Here’s the past week of crypto and blockchain news in review, as originally reported by Cointelegraph en Español.
Ayala shared his perspective on the attitudes of regulators and banks towards crypto in Spain. He said:
“Current regulations, with special reference to the Securities Market Law, do not establish a specific regulation for cryptocurrencies, ICO or STO, but do have mechanisms that can be adapted to these alternative financing mechanisms. Therefore, I would say that at the moment a specific regulation is not necessary, but, taking into account that the crypto ecosystem will grow in the coming years, it will be necessary for the administration staff to have a minimum knowledge to be able to value projects with blockchain base.”
Venezuela’s Superintendent of Cryptoactives, Joselit Ramirez, announced on Monday, Aug. 19, that state airline Conviasa would begin accepting payment in the Petro, the state’s oil-backed cryptocurrency.
According to Ramirez, customers should be able to use the Petro app to process payments for plane tickets in a matter of minutes.
The Petro has been plagued by false starts in various applications, with some commentators referring to it as a scam. It is also subject to international sanctions, with United States citizens prohibited from purchasing it, per an order from U.S. President Donald Trump.
Last week, blockchain firm Pundi X partnered with Panama-based company Chainzilla to distribute Pundi X’s cryptocurrency-enabled point-of-sale payment processors in the country.
Yesterday, Cointelegraph reported on Pundi X’s further expansion of services at Venezuelan department store chain Traki’s 49 outlets.
In Argentina, the Ministry of Industry of the Province of Misiones is reportedly working to develop JellyCoin, a token designed to streamline the province’s waste management system. JellyCoin is part of the broader Hive Project, which aims to link people with waste with industries that may have some use for that waste.
Instability in Argentina’s economy has led to famously widespread demand for decentralized cryptocurrencies.