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Crypto.com Approved to Operate in Spain
The crypto exchange said it has registered as a virtual asset service provider with the country's central bank following a "comprehensive" compliance review.
Updated Jun 23, 2023, 10:11 a.m. Published Jun 23, 2023, 10:11 a.m.
Digital asset exchange platform Crypto.com has secured registration as a virtual asset service provider (VASP) with the central bank of Spain, the company announced on Friday.
The registration, approved after what the company said was a "comprehensive review of its compliance with Anti-Money Laundering Directive (AMLD) and other financial crimes laws," will allow Crypto.com to offer a "suite of its products and services to users in Spain."
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Bank of Spain opened a registry for crypto service providers in 2021, and since then, firms like Binance, Bitstamp and banking platform BVNK have registered with the regulator.
With the European Union's new Markets in Crypto Assets (MiCA) now finalized, regulators in member states like Spain will soon start applying new standards and requirements in accordance with the framework.
"Receiving the VASP registration from the Bank of Spain is the latest testament to our commitment to compliance and eagerness to work with regulators and public officials in responsibly advancing crypto and blockchain technology,” Kris Marszalek, CEO of Crypto.com said in a press statement.
Read more: Crypto.com Winding Down U.S. Institutional Business
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