Spanish banks have no problem letting you buy cryptocurrencies. What they don't want to do is advise you on them

Spanish banks are cautiously embracing cryptocurrencies, allowing customers to trade but refraining from offering investment advice. This trend, spearheaded by BBVA in March 2025 and followed by CaixaBank and OpenBank, reflects a broader acceptance of cryptocurrencies within the traditional financial sector. The banks are permitting crypto trading, but the responsibility for investment decisions rests solely with the customer. Key data indicates that while many Spanish banks facilitate crypto transactions, they avoid providing investment advice. A report by the ESMA and EBA revealed that most institutions follow this model. Out of the 110 entities authorized under the MiCA regulation in Europe, only 20 have sought to offer crypto advisory services. This highlights a trend of banks offering access to crypto markets without guiding customers. This approach impacts investors who must navigate the crypto market independently, increasing the risk and responsibility for their financial decisions. The banks' reluctance stems from high reputational risks and the volatile nature of cryptocurrencies, making it challenging to provide reliable investment advice. This trend emphasizes the need for investors to conduct thorough research and exercise caution when engaging with cryptocurrencies.