How to invest in Spanish bitcoin
SPANISH BEARINGS (SPA) — The Spanish government is investigating the sale of bitcoin by a cryptocurrency exchange.
The SEC on Tuesday launched an investigation into the sale by CoinJar, which was founded in December.
The investigation follows the announcement last month that CoinJar had acquired a stake in the cryptocurrency exchange BitGo.
The government is looking into whether CoinJar violated securities laws.
CoinJar CEO Jorge Castaneda said on Tuesday that the government is not looking at the sale as an attempt to create a black market, but as an opportunity to provide liquidity for the Spanish economy.
“There is no other cryptocurrency with similar characteristics and we are in talks with our partners to develop the technology to offer the liquidity we have been asking for,” Castanella said.
The sale follows a week-long investigation into CoinJar and BitGo by the SEC.
The agency said that the two exchanges are “the only two authorized cryptocurrency exchanges in the world” with over 2,000 customers.
The price of a bitcoin rose by more than $1,000 in the past 24 hours after the announcement.
CoinJar CEO Castanela said the exchange has been selling bitcoin for months, but that the price has doubled each day.
The bitcoin exchange also has a relationship with bitcoin wallet service ShapeShift, which lets users send and receive bitcoin.
In February, the SEC announced that the agency had fined the firm more than a million dollars for violating securities laws in connection with its bitcoin-trading business.