The Bank of Spain already has 17 virtual asset service providers are included. Three new companies were included last week, but no big names in the crypto ecosystem have yet registered.
Bank of Spain Crypto Registry Reaches 17 Companies
The Registry of Virtual Asset Service Providers (VASPs) of the Bank of Spainreached 17 companies last week, including three more crypto businesses. The registry added several exchanges and custody companies in June, including Jobchain España, Jobchain Austria, Criptan Trade, Eurocoin Broker, Lemacoin Crypto Solutions, Bitpanda, and Vottun
Registration of these companies accelerated in June, and most of the cryptocurrency exchanges that register are local companies that want to make sure they comply with Spanish law. Since the bank opened the registry last year, several crypto companies have been added, starting with Bit2me, which was approved in February. The registry now includes C.R. Tecnología y Finanzas, Bitcoinforme, Bitbase, Brox, Trade Republic Bank, Global Star Technology, Onyze Digital Assets, Bitgo Germany, and; BTC hasDirect Europe,
apart from the above companies, the Crypto Registry was created by a change in Spanish law that is mandatory for crypto companies to operate in the country and currently requires crypto companies to follow certain guidelines to prevent money laundering and terrorist financing.
Big Names Still Missing The registry has been very successful with local companies, getting them to register their operations and implementing compliance tools for money laundering purposes, but acceptance by the big international exchanges has not as successful; names like Binance and other large exchanges are still missing from the list and are part of the list of exchanges currently in regulatory limbo.
Specifically, Binance has been named to a gray list issued by the Bank of Spain that includes cryptocurrency exchanges operating in the country. The company was recently reprimanded by the country’s securities watchdog, CMNV, which ordered Binance to stop offering cryptocurrency-related derivatives, including futures contracts, to Spanish users of its platform.
According to reports, the company is already in negotiations to be included in the Bank of Spain’s crypto registry, but has not yet been approved by the central bank.
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