Bank of Spain Warns Citizen Against Crypto

A warning has been issued by Spain’s central bank regarding the public involvement of unregulated cryptocurrencies transaction in the country. The notice has been posted in the official blog of the central bank which has made it clear the institution’s stance on cryptocurrencies. According to it blog, no legislation regarding cryptocurrency has been passed on the country’s government at the moment.

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Bank of Spain Warns Citizen Against Crypto

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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