Spain could include mortgage payments with cryptocurrencies

The Popular Party of Spain (PP) introduced a bill that would allow citizens to make be able to make mortgage payments through cryptocurrencies.

Specifically, this initiative would aim to regulate and legitimize numerous emerging technologies within the Iberian nation, including bitcoin, blockchain technology and Artificial Intelligence (AI).

Likewise, the bill also includes other incentives, such as tax exemptions for companies and organizations that use and create solutions based on these technologies. For example, the draft legislation calls for smart contracts to manage various operations in banks that the law would cover.

One of the main attractions of this proposal is the possibility for citizens to make mortgage payments using digital assets, which would encourage the handling of this type of currency.

In addition to its introduction into the mortgage system, it proposes extending it to insurance policies, with smart contracts with conditions based on the procedures to be followed, verification processes and potential incidents.

K. Tovar

Source: DiarioBitcoin