“Bitinka and Arbistar are examples of dark companies”

Víctor López is the founder of LBO Abogados and Cointelegraph en Español spoke to him in Spain about cryptocurrencies, regulations and advising those affected by some companies.

Fernando Quirós (FQ): When did LBO Abogados decide to receive cryptocurrencies as a means of payment? How did the idea come about?

Victor Lopez (VL): The truth is that it was all born with the proposal of a UK client (Berklest) whose business purpose is tokenize real estate assets and advanced digital payment solutions.

“Bitinka and Arbistar are examples of dark companies”
“Bitinka and Arbistar are examples of dark companies”

As a result of that moment, and thanks to the news that Cointelegraph reported, other customers interested in paying and receiving payments in cryptocurrencies, projects and very specific consultancy requests were born within the company that led to the creation of

QQ: What is Crypto Lawyer? What services will they offer?

VL: will be a meeting point for qualified professionals from the world of crypto assets looking to explore opportunities to collaborate on legal, business and cybersecurity advisory projects – it will see the light of day in the first quarter of 2021.

It will also organize special courses and host a “live” contact database of professionals and companies who will be able to connect based on specific interests.

In addition, it is currently analyzing its actual opportunities to become a DAO in a project created as part of the postgraduate course in blockchain and other DLT technologies at Pompeu Fabra University (Barcelona).

QQ: Have you investigated cases of various kinds of situations with users who felt affected? Can you give us an example?

VL: In the company we received those affected by Bitinka and Arbistar. At that time, we also received those who were affected by the 2gether hack (which we also suffered ourselves), although the former cases differ greatly from the latter in one point: the attitude and intent of those responsible for raising the problem professional way to solve, serious and strict.

In other words, Bitinka and Arbistar are examples of shady companies that fail to offer their members clear and plausible solutions. Instead, 2gether was the opposite at the moment.

Regarding the real intentions of the executives of the first two companies, a judge will decide in due course whether or not they should be charged with a criminal offense.

QQ: How do you see the cryptocurrency fraud situation in Spain? There is much?

VL: The most notorious case in Spain was Arbistar, which due to its size may end up in the national court.

Fortunately, more interesting projects are emerging in our country instead of fraud, and this is causing the interest of citizens to multiply exponentially. Some of these are Criptan, Atani or 2gether itself.

QQ: The Arbistar case has had a worldwide impact. What do you know about her

VL: As you say, the impact in terms of the number of people affected has been brutal. So far it is only known that it will be cleaned in court No. 3 of the instruction of Arona (Tenerife) and that every time more people join, who in most cases understand that the procedure before the national court should be completed in order to be more agile and faster To enable measures to secure the affected positions. The next few months will be crucial, but the complexity of the case means that it will continue for a long time.

QQ: What potential do you see for Bitcoin and cryptocurrencies in Spain?

VL: It takes me a long time to fully understand Bitcoin and how it works. Hence, it seems very risky for me to comment on other cryptocurrency projects.

However, I would like to highlight Elrond ($ EGLD) who I’ve been following for a long time. His innovation and the potential of his team are beyond doubt and like Picolo Research, I believe that $ EGLD is undervalued and in a prime position for a significant price hike.

QQ: What is the situation of cryptocurrencies like in Spain? Are there any regulations in this regard?

VL: In Spain, as always, the legislature is more concerned with getting some of the citizens’ investments in crypto assets and monitoring them than with understanding their nature.

As evidence of this, there is an obligation to report on holding and working with virtual currencies, recently included in Law 7/2012.

It is clear that we are a few steps behind other countries like Malta or Estonia and that we will be lagging behind the European Union, which published its proposal for a European Commission Regulation on Crypto Asset Markets (MiCA) in September . The next few months at the regulatory level will be exciting.

QQ: Do you think cryptocurrencies can help the population without banks?

VL: Cryptocurrencies and the various projects that stand behind them, with their myriad of variants and differences, have remained to improve the lives of individuals and legal entities.

As in everything, there will be different levels of acceptance, which will be determined by trust in the project itself and in the development of the globalized economy as we know it today.

The feeling that Bitcoin is eating at a separate table and that it will always be like that because of the characteristics that make it different and that no other project can ever have, is reflected in the massive acceptance of large companies that seek refuge in it before. uncertain future, from a financial point of view, that is to come.

It is good to correct and see. It would be a shame for someone like Warren (Buffet) to leave this world without realizing the potential and benefits of Satoshi Nakamoto’s project.

I believe that the next big milestone will be public institutional investment and the recent movements of governments like Estonia or the city of Miami, which published the Bitcoin White Paper days ago on their official website in what I believe to be an intended letter of intent.

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