Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.

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4. Results: Answers
Trends and predictions
How would you describe the current fintech landscape and prevailing trends in your jurisdiction? Are any new developments anticipated in the next 12 months, including any proposed legislative reforms?

Answer ... Fintech companies are booming in Spain, in all verticals. Neobanks, real estate investment platforms, payment services providers (including account information and payment initiation) and blockchain ventures are leading the field today; although big data and artificial intelligence tools, together with regtech initiatives, may be the next big thing.

New developments anticipated in Spain over the next 12 months include the implementation of the Fifth Anti-money Laundering Directive, which will subject cryptocurrency exchanges and wallet providers to the Law on the Prevention of Money Laundering and the Financing of Terrorism and its associated Royal Decree 304/2014. In addition, the sandbox for financial innovation should soon become a reality if, as expected, Parliament ratifies the draft government bill that regulates its creation.

For more information about this answer please contact: Xavier Foz Giralt from Roca Junyent Abogados