Monday, May 29

Spain: they create an organization for the protection of cryptocurrency users

The rise of cryptocurrencies and the increase in their adoption by Spanish citizens led lawyer Carlos Aránguez to found the Association of Cryptocurrency Users in that country.

The non-profit organization seeks to spread knowledge about bitcoin (BTC) and cryptocurrencies and, in addition, protect those who make use of those digital assets, according declared Aránguez to a local newspaper.

The association seeks to “cover a social need and fill the lack of knowledge that exists around crypto assets.” One of the characteristics is that they seek to specialize in “teaching and research”, as well as in the study of tokens, NFTs, decentralized finance (DeFi) and virtual currencies.


The lawyer is in charge of the Aránguez Abogados law firm, which —as detailed in his website— has specialized in “fighting” pyramid schemes with cryptocurrencies. East will also give legal advice to “protect the rights” of cryptocurrency users.

“Anyone can be part of this community for free. Its main purpose is to serve as a loudspeaker for users of cryptocurrencies and defend their rights before the authorities, the main private companies in the sector and payment method systems,” said Aránguez.

Lawyer Carlos Aránguez founded the Cryptocurrency Users Association to defend and educate cryptocurrency users. Source: YouTube.

Currently in Spain, the authorities have advanced in the development of regulations for the regulation of cryptocurrencies and advertisements related to this ecosystem. In fact, on January 15, CriptoNoticias reported that the regulation of advertising on bitcoin and crypto assets in Spain will come into force next February.

On the other hand, platforms for exchanging cryptocurrencies for fiat money and other assets are not supervised by the National Securities and Market Commission (CNMV) of Spain.

Aránguez and cases of fraud in Spain

The Aránguez law firm, located in Granada, in the south of Spain, deals with lawsuits for scams related to cryptocurrencies. One such case was the alleged Arbistar cryptocurrency Ponzi scheme, reported by CriptoNoticias.

Arbistar presented itself as a bot platform for automated cryptocurrency arbitrage. That would have served commit crimes such as aggravated fraud, criminal organization and continued crime of forgery in commercial documents.

the law firm Prest your services to the “main affected platform” by Arbistar. They ensure that since 2020 they are working in that case with the objective to “recover the bitcoins that were unfairly” stolen from the victims of the scam.

CriptoNoticias contacted Carlos Aránguez in order to gather more information about the reported non-profit association. So far no response has been received, but this article will be updated if new information becomes available.