President of Spain's CNMV says cryptocurrencies "have very clear advantages"

• The representative of the agency offered institutional support to evaluate trading projects.
• San Basilio warned about fraud risks and highlighted the relevance of artificial intelligence.

The president of the National Securities Market Commission (CNMV) of Spain, Carlos San Basilio, publicly supported financial technological advancement on September 15, 2026, during the IX edition of the 'Digital Assets' Forum. During the meeting, the official analyzed the role of cryptocurrencies in finance.

"Digital assets, when looked at beyond cryptocurrencies, have very clear advantages, and from the CNMV, we are willing to support their development," San Basilio stated, as quoted by the Spanish newspaper El Confidencial. His statements backed the use of distributed ledger technology (DLT) and cryptocurrency networks applied to the traditional financial system.

The representative of the Spanish regulatory body linked the adoption of these technical solutions directly to national financial competitiveness. In this regard, San Basilio warned: "we cannot be competitive if we remain on the sidelines of all these technologies," advocating for the modernization of existing infrastructure.

Additionally, the head of the agency emphasized the transformative impact on traditional stock market operations. "The framework for trading digital assets would present a series of long-term advantages to make markets more competitive and dynamic," he stated during his speech at the event.

However, he clarified that currently, the use of these tools and technical proposals "is marginal." Despite this, the institution assures that it seeks to facilitate the gradual integration of new projects aligned with current regulations.

"We believe that the applications of these technologies to trading procedures also have clear advantages, and we are willing to evaluate new and innovative projects to see how we can implement them with maximum control," he added.

The official warns that "it is essential" to work consensually with the sector so that developments are carried out "in the most controlled manner possible." This collaboration aims to prevent economic crimes, as there are risks, especially concerning fraud.

Despite the automation in stock processes, San Basilio emphasized the primacy of personal supervision. Ultimately, he noted, "it is essential that in all these processes, the determining factor for decision-making is the human factor. Digital tools support decision-making."

The executive stressed that strategic or investment resolutions should not be left autonomously to a computational system. "It is fundamental that human control is, ultimately, the determining factor for making decisions in one direction or another, such as developing a technology or investing here or there."

On the other hand, he evaluated the impact of emerging computer tools on decentralized accounting books. In this sense, he pointed out that artificial intelligence will reinforce the innovation processes associated with DLT technology. "Artificial intelligence will come to reinforce the innovation processes in the world of digital assets," he concluded.

This search for maximum operational supervision becomes relevant in the regulatory context of Spain. On September 8, the Government approved the draft project to create the National Authority for Financial Integrity (ANIFI), an entity designed to strengthen the tracking of operations in the local market, as reported by CriptoNotocias.

The governmental initiative seeks to unify the oversight of the sector through a unique data registry accessible by security and tax inspection agencies. In the face of this institutional restructuring, the CNMV's stance reaffirms the intention to balance legal oversight with technological openness.

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