Bank of Spain Has Registered 17 Crypto Companies, Big Names Still Missing – Regulation Bitcoin News

Bitcoin.com

The Bank of Spain has already included 17 virtual asset service providers in its own registry, in which cryptocurrency exchanges and custody providers must be listed to operate, according to Spanish law. Three new companies were included last week, but big names in the crypto ecosystem are still not registered.

Bank of Spain Crypto Registry Reaches 17 Companies

The registry of virtual asset service providers (VASPs) of the Bank of Spain reached a number of 17 companies last week, with the inclusion of three more crypto businesses. The registry added several exchanges and custody companies June, including Jobchain España, Jobchain Austria, Criptan Trade, Eurocoin Broker, Lemacoin Crypto Solutions, Bitpanda, and Vottun.

How To Get Free Crypto  

The registry of these companies has accelerated in June, with most of the cryptocurrency exchanges registering being local companies that want to be sure they are compliant with Spanish laws. Since the bank opened its registry last year, it has added several crypto companies, starting with Bit2me, which was approved in February. The registry now includes C.R. Tecnología y Finanzas, Bitcoininforme, Bit Base, Blox, Trade Republic Bank, Globalstar Technologies, Onyze Digital Assets, Bitgo Deutschland, and BTC Direct Europe, apart from the companies mentioned above.

The crypto registry is mandatory for crypto companies to operate in the country, and was created in a change to a Spanish law that now requires crypto companies to follow certain guidelines to prevent money laundering and terrorism financing.

Big Names Still Missing

While the registry has been very successful with local companies, making them register their operations and implementing the compliance tools for money laundering purposes, the reception by bigger international exchanges has not been as successful. Names like Binance and other large exchanges are still out of the list and are part of a list of exchanges currently in regulatory limbo.

Binance, specifically, has been named in a gray list issued by the Bank of Spain that includes cryptocurrency exchanges operating in the country. The company was recently reprimanded by the CMNV, the securities watchdog of the country, that ordered Binance to stop offering cryptocurrency-related derivatives, including futures contracts, to Spanish users of its platform.

Coinbase Banner  

According to reports, the company is already in talks to be included in the crypto registry of the Bank of Spain, but it has still not been approved by the central bank.

Tags in this story

What do you think about the progress of the crypto registry of the Bank of Spain? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

FreeBitcoin Banner  

Read disclaimer

Go to Source
Author: Sergio Goschenko


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.