🔎 Spain🇪🇸 abolishes anonymity when using cryptocurrency ATMs and tightens control over funds

🔎 Spain🇪🇸 abolishes anonymity when using cryptocurrency ATMs and tightens control over funds
Royal Decree 813/2026 introduces stricter identification and oversight requirements: all transactions will become traceable ❗️

1️⃣ No room for anonymity: customers must be identified before every cryptocurrency ATM transaction, regardless of the amount.

2️⃣ Gambling and betting operators must request proof of ownership of the payment method. The payer's name must match the name of the account holder. Platforms have 6 months to complete the transition to the new system, but during this period, winnings cannot be withdrawn without account verification. Compliance becomes an absolute priority.

3️⃣ High-risk funds and nonprofit organizations must register donors and beneficiaries of donations when the transaction amount exceeds EUR 1,000. In addition, the management of these organizations must provide documentary proof of having no criminal record for financial and property-related crimes, as well as terrorist financing. The Financial Intelligence Committee will be responsible for the National Risk Assessment, which must be updated at least once every 4 years.

4️⃣ Notarial procedures will also face stricter controls: all notarized deeds, including those without financial implications, will require identity verification.

🔣 Context: efforts to eliminate anonymity extend well beyond the gambling and cryptocurrency sectors. At the end of June, a unified deposit limit was also introduced for all licensed platforms under a Royal Decree, a measure that also requires users to verify their identities.

#news #Europe #gambling #crypto

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