The National Commission for the Securities Market of Spain (CNMV) commissioned a study, thanks to which it found out that the level of acceptance of cryptocurrencies in the country is quite low.
A Grupo Analisis e Investigacion study report says that only three out of four Spaniards have heard of cryptocurrencies. However, people’s knowledge is still very limited: only 1.4% of those surveyed are well versed in digital assets.
Most respondents lack knowledge of cryptography or have only heard or read about digital assets and blockchain. The dominant group included almost 70%.
Only 6.8% of those surveyed admitted that they had ever invested in cryptocurrencies. More than 80% said they have not invested in cryptocurrencies and do not plan to do so in the future. Nevertheless, most experienced crypto investors invest no more than 5% of their capital in cryptocurrencies, that is, they use them as diversification assets.
66.3% of crypto investors surveyed believe that digital assets are more risky than other investment vehicles.
The Spanish regulator commissioned a study to determine the level of adoption of cryptocurrencies in the country. To collect data, 1,500 respondents from Spain were interviewed, from which a sample of 300 local crypto investors was made.
Recall that the Bank of Spain (BE), as well as other local regulators, do not particularly welcome the crypto industry. BE said in April that it was going to block digital asset transactions and banking customer accounts in case fraud is suspected.
