The Institute of Technology and Renewable Energies in Tenerife plans to sell its 97 BTC stash acquired in 2012 for research purposes, with current value exceeding 10 million euros.

The sale faces past complications, but authorities hope to complete it in the coming months by coordinating with a regulated institution overseen by Spain’s Bank of Spain and the CNMV.

Proceeds from the sale are earmarked for future research projects, including work in quantum technology.

A disclaimer notes the article reflects the author’s opinion and is not investment advice.

The move comes amid heightened regulatory scrutiny and anti-crime actions in Spain related to cryptocurrency, underscoring a cautious public-sector stance on digital assets.

MiCA, applicable across the EU by the end of 2024 with a transitional period through December 2025, imposes licensing and reporting requirements for crypto-asset service providers, complicating large-quantity transfers for public entities.

Under MiCA, licenses from the CNMV are required for crypto-asset service providers; public entities face extensive due diligence and asset classification challenges when moving large crypto holdings.

BBVA has recommended that wealthy clients allocate between 3% and 7% of portfolios to Bitcoin and crypto assets, signaling cautious but growing institutional exposure.

The piece places ITER’s move in the context of U.S. universities expanding Bitcoin holdings via ETFs, illustrating a broader institutional trend.

Public discussion in Spain on risk and consumer protection grows, including a proposed color-coded risk labeling system for crypto assets to help retail investors assess risk.

Legislation and regulation are evolving with consumer protection and risk labeling proposals, such as a color-coded system advocated by lawmakers to guide retail investors.

The article cites El Día and CryptoNews and situates ITER’s situation within broader European regulatory trends and Spain’s evolving crypto market.