Spain’s Ministry of Economy Launches Public Consultation to Update Anti-Money Laundering Rules for Cryptocurrencies
Spain’s Ministry of Economy opens a public consultation to update anti-money laundering regulations to address cryptocurrency risks and align with new European AML directives.
- • Spain’s Ministry of Economy has launched a public consultation to reform AML regulations.
- • The update targets emerging risks associated with cryptocurrencies and evolving laundering methods.
- • The consultation is open until February 3, 2026, for stakeholder feedback.
- • The reform aims to transpose the European AML package (Directive (EU) 2024/1640 and Regulation (EU) 2024/1624) into Spanish law.
Key details
The Spanish Ministry of Economy, Commerce, and Enterprise has initiated a public consultation aimed at reforming the country’s anti-money laundering (AML) regulations to better address new challenges presented by the rise of cryptocurrencies. The current AML framework, which has been in effect for over a decade, requires updates to reflect significant socio-economic transformations and emerging risks related to crypto-assets.
The consultation, open until February 3, 2026, invites affected parties and representative organizations to provide feedback on proposed changes. The Ministry highlights that evolving forms of money laundering and terrorist financing, alongside updates to international guidance from the Financial Action Task Force (FATF), necessitate a reform of existing regulations.
In addition, this initiative seeks to transpose the European AML package—comprising Directive (EU) 2024/1640 and Regulation (EU) 2024/1624—into Spanish law. While most elements of this package will be incorporated through a comprehensive legislative process currently underway, the Ministry intends to implement some minor updates to the existing regulation to ensure it remains relevant and effective.
The reform will also address previously identified shortcomings, such as the obligation for entities to appoint a representative before the Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offenses (Sepblac). By adapting the AML regulations to contemporary threats and regulatory standards, Spain aims to strengthen its financial oversight and compliance mechanisms amid the growing influence of digital currencies.
This article was translated and synthesized from Spanish sources, providing English-speaking readers with local perspectives.
