ERIR vs Iberclear: DLT register versus the traditional register
Differences between the ERIR (tokenised securities on DLT) and Iberclear (CSD, book entries): function, scope and liability.
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Blockchain and Web3
How to tokenise an investment fund in Spain
What it takes to tokenise a fund in Spain: the role of the SGIIC and depositary, ERIR and DLT registration, with real CNMV cases.
Digital asset custody: who may safekeep tokenised securities
Differences between crypto-asset custody (CASP/MiCA) and tokenised financial instruments: authorised entities, ERIR, DORA.
MiCA: the 1 July 2026 deadline and the CASP transitional regime in Spain
Since 1 July 2026 only providers authorised by the CNMV or passported from another EU state may operate in Spain. A pending application does not extend it.
Law 6/2023 (LMVSI) and securities tokenisation: what the rules say
What the LMVSI says about tokenising securities: DLT registry, issuance document and the ERIR. Still MiFID II instruments, not MiCA.
Tax: security token vs cryptocurrency, not taxed alike
Why a security token is taxed as a security and a cryptocurrency as a crypto-asset: differences in income tax, withholding and reporting.
MiCA vs MiFID II: which regulation applies to your token
MiCA or MiFID II? How to tell which regulation applies to your token in Spain: security token, crypto-asset, ART or EMT.
How security tokens are taxed in Spain (Personal Income Tax)
Taxation of security tokens under Spanish Personal Income Tax: investment income, capital gains, the savings base and Modelo 721.
Blockchain systems: centralized vs distributed
Discover the differences between centralized, decentralized and hybrid blockchain: features, advantages, disadvantages and when to use
From paper to token: how to transform traditional assets into digital
How to digitize real assets such as property, art or debt through tokenization: methodology, legal vehicles, custody and the steps of a real issuance.
Why will tokenization change the way we invest in years to come?
Asset tokenization is transforming investment. Discover how and why this technology will radically change markets
How to prevent your project from becoming (unintentionally) a security token?
What makes a token a transferable security, how regulators classify it and what to review before launching. Avoid the costly legal mistakes.