El Corte Ingles Files for a Crypto-Related Trademark to Provide ‘Financial Services’

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El Corte Inglés, the most important division retailer group in Spain, appears to be coming into into the cryptocurrency sphere. After submitting for a associated trademark with the Mental Property Workplace of the European Union, they’ve registered “Bitcor”.

Trademark Is a ‘Preventive Registration’

In line with submitting request #018434202, the Spanish group retailer seeks to supply “Finance providers, monetary transactions regarding foreign money swaps, shopping for and promoting foreign money.”

Though it didn’t point out digital belongings particularly, sources from El Corte Inglés told MSN that the corporate intends to conduct crypto-related enterprise sooner or later.

Formally, nevertheless, representatives from El Corte Inglés have declined to touch upon doable digital currencies-related exercise. They’ve solely acknowledged that the trademark submitting is a “preventive registration” to keep away from different firms utilizing “Bitcor” identify.

Together with “Bitcor”, El Corte Inglés additionally made a registration for the branding “Bitcor El Corte Inglés”, with each requests are pending approval June 28, 2021. The transfer may very well be interpreted as a response to the coronavirus pandemic, as an effort to strengthen the teams e-commerce performance.

Spain’s Robust Stance on Cryptos

If El Corte Inglés makes continued foray into the cryptocurrency trade, Spain’s regulation of digital belongings could current problem. A just lately enacted royal decree, for instance, seeks to align present home regulation with European Union anti-money laundering (AML) directives, generally generally known as AMLD5. Home exchanges at the moment are required share clients’ information with the EU bloc.

As Bitcoin.com Information reported in April, Rodrigo Buenaventura, the Nationwide Securities Market Fee (CNMV) president, was vocal on his stance in opposition to cryptocurrency associated commercials, calling them “dangerous.”

What do you consider El Corte Ingles’ crypto-related trademark submitting? Tell us within the feedback part beneath.

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