The Spanish Bitcoiners can thank their government, as the lack of national regulation regarding cryptocurrencies has made it a lot easier for companies like PayMaQ and Bbank to produce and install their very own Bitcoin ATMs. These two businesses are planning to spread 100 machines around the country in the next three months.
According to the site CryptoCoinsNews.com, Bitcoin ATMs operating in Spain – the first one installed in Barcelona during this weekend included – are regulated by the same laws as vending machines, which means companies don’t need a special permit or license to install them.
PayMaQ is launching two different Bitcoin devices, which will be managed by its partner Bbank. The first version will allow users to buy Bitcoin with Euros, exclusively using bills between €20 and €500. On the other side, the second version, which is still under development and should be ready during the next weeks, will allow the clients to buy and sell Bitcoin.
The ATM presented this Saturday (22) in Barcelona, at the shopping center Diagonal Mar, is the most basic version, only allowing one operation. However, the companies intend to update it as soon as possible.
In the meantime, the first 40 devices are being developed. The majority of these machines should be installed in Madrid, Valencia and Barcelona, specifically in big commercial spaces. However, the companies’ plan also has a foreign touch, as they intend to expand the installation of the machines to countries like Argentina.
Featured image from Wikimedia