2023-06-24 12:05:07
Crypto exchange Crypto.com recently received a virtual asset provider license in Spain. Through this, it is entitled to provide various products and services, while complying with regulations and guaranteeing the safety of users. The registration, which the company said was approved after a comprehensive review of compliance with the Anti-Money Laundering Directive and other financial crime laws. The news was also confirmed by the National Bank of Spain. The bank stated that by meeting the criteria, they can provide customers with the greatest possible security. We’re excited to share our latest regulatory achievement in Europe! We have obtained our Virtual Asset Provider Registration in Spain ???????????? Learn more: pic.twitter.com/fmkWt6npvK — Crypto.com (@cryptocom) June 23, 2023 The national bank of the country made the possibility for registration available in 2021. Since then, companies such as Binance, Bitstamp and the BVNK banking platform have registered with the regulator. With the virtual asset provider license, the crypto exchange is authorized to provide virtual asset services to individuals and businesses in the Spanish market. This includes, for example, the provision of services for the safe storage of cryptocurrencies, the trading of these assets, as well as fiat-crypto transactions. In addition to the new market, the achieved result further increases the company’s credibility and reputation in the industry. By successfully meeting the stringent regulatory requirements imposed by the National Bank of Spain, Crypto.com is seen by many as demonstrating its commitment to the highest levels of security and compliance. The license could also have a significant impact on promoting the adoption of cryptocurrencies in the country. “Receiving authorization from the National Bank of Spain is the latest proof of our commitment to compliance and our eagerness to work with regulators to promote crypto and blockchain technology responsibly.” said Kris Marszalek, CEO of Crypto.com.
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