Last week, 17 businesses were added to the Bank of Spain’s Registry of Virtual Asset Service Providers (VASPs), including three additional cryptocurrency companies.
Jobchain Espana, Jobchain Austria, Krypton Trade, Eurocoin Broker, Lemacoin Crypto Solutions, Bitpanda, and Voton are just a few of the exchanges and custody firms that the register added in June.
In June, the registration of these businesses picked up steam, with the majority of bitcoin exchanges registering as local businesses in an effort to demonstrate their compliance with Spanish law. The bank has added a number of cryptocurrency businesses since opening its registry last year, beginning with Bit2me, which was approved in February.
Along with the previously named businesses, the registry now also includes CR Tecnologia y Finanzas, Bitcoininforme, Bit Base, Blox, Trade Republic Bank, Globalstar Technologies, Onyze Digital Assets, Bitgo Deutschland, and BTC Direct Europe.
Also Read: European Crypto Users Prefer Decentralized Services, Reports Bank of Spain
The Crypto Registry, which was developed to replace a Spanish law that currently mandates that crypto companies adhere to specific rules in order to avoid money laundering and the financing of terrorism, is a requirement for crypto companies in order to operate in the nation.
While local businesses have had great success using the registry to register their operations and put compliance procedures in place for anti-money laundering purposes, huge international exchanges have had less success.
The list of exchanges currently subject to regulatory restrictions includes names like Binance and other big exchanges, but they are not yet included.
A gray list published by the Bank of Spain contains cryptocurrency exchanges active in the nation and specifically includes Binance. CMNV, the nation’s securities authority, recently reprimanded the business and ordered Binance to stop providing cryptocurrency-related derivatives, such as futures contracts, to Spanish users on its platform.
The startup is reportedly in discussions to join the Bank of Spain’s cryptocurrency registry, but the central bank has not yet given its approval.
