El Corte Inglés, the largest division retailer group in Spain, appears to be coming into into the cryptocurrency sphere. After submitting for a associated trademark with the Intellectual Property Office of the European Union, they’ve registered “Bitcor”.
Trademark Is a ‘Preventive Registration’
According to submitting request #018434202, the Spanish group retailer seeks to provide “Finance services, financial transactions relating to currency swaps, buying and selling currency.”
Although it didn’t point out digital property particularly, sources from El Corte Inglés told MSN that the company intends to conduct crypto-related business sooner or later.
Officially, nevertheless, representatives from El Corte Inglés have declined to touch upon doable digital currencies-related exercise. They have solely said that the trademark submitting is a “preventive registration” to keep away from different corporations utilizing “Bitcor” identify.
Along with “Bitcor”, El Corte Inglés additionally made a registration for the branding “Bitcor El Corte Inglés”, with each requests are pending approval June 28, 2021. The transfer could possibly be interpreted as a response to the coronavirus pandemic, as an effort to strengthen the teams e-commerce performance.
Spain’s Tough Stance on Cryptos
If El Corte Inglés makes continued foray into the cryptocurrency business, Spain’s regulation of digital property could current problem. A not too long ago enacted royal decree, for instance, seeks to align present home regulation with European Union anti-money laundering (AML) directives, generally often called AMLD5. Domestic exchanges are actually required share clients’ information with the EU bloc.
As Bitcoin.com News reported in April, Rodrigo Buenaventura, the National Securities Market Commission (CNMV) president, was vocal on his stance in opposition to cryptocurrency associated commercials, calling them “risky.”
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