You can see the rules and regulations in other jurisdictions.
Spanish law 6/2020 of 11 November 2020 on aspects of trust services (the Spanish Electronic Signature Law) and Regulation (EU) No. Digital identity is recognised in Spain. A law relating to electronic identification and trust services for internal market transactions (known as the Electronic Signature Laws) was passed on 23 July 2014.1
A digital identity certificate can be issued by any government or private entity that adheres to the Electronic Signature Laws. All national and non-national persons can access electronic identity. However, the most widely recognized certificates are issued by public institutions (the Royal Spanish Mint and the Tax Agency).1
The Electronic Signature Laws define the criteria for classifying electronic signatures in Spain as one of three distinct types depending on security features and corresponding probative effects. From the simplest to the most secure, these categories are simple electronic signature, advanced electronic signature, and qualified electronic signature, with the latter requiring a recognised certificate and a secure device for creating a trustworthy signature.1
Electronic signatures are legally recognised to enter into any contractual relationship or transaction. However, only 'qualified electronic signatures' are deemed by the Electronic Signature Laws to have the same value in court as a handwritten signature on paper. Although they may not meet the requirements of qualified electronic signatures, other types of electronic signature cannot be denied legal effect and admissibility as evidence in legal proceedings. Nonetheless, the strength of such evidence is contingent on the security measures employed throughout the contracting process to verify and identify signatory parties.1
The Electronic Signature Laws in Spain permit the use of trust services meant to bolster fintech businesses. These laws allow for an applicable legal framework that can improve and create these operations in 2021. Despite this, certain judicial rulings and resolutions issued by the public registries questioned the validity of electronic signature models and platforms if they complied with Spanish regulations.1
Comprehensive legal services for businesses on corporate, tax law, cryptocurrency legislation, investment activities
Participation as a lawyer at investment venture funds, leading venture M&A deals in IT, supporting iGaming and business assets
Legal support for FinTech and Blockchain projects
