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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.
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."
STORY CONTINUES BELOW
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
Sandali Handagama
Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She is an alumna of Columbia University's graduate school of journalism and has contributed to a variety of publications including The Guardian, Bloomberg, The Nation and Popular Science. Sandali doesn't own any crypto and she tweets as @iamsandali
