Home
News
Global crypto exchanges keep a track of opportunities to better serve crypto users across the world. Recently, the prominent crypto exchange, Crypto.com, announced it received a regulatory license in Spain.
Spain is Recent in Crypto.com’s List
In an announcement over an official blog post, Crypto.com noted receiving the Virtual Asset Service Provider (VASP) registration from the Spanish central bank, Bank of Spain.
Earlier, the bank went through the comprehensive review procedure to allow the VASP registration, including compliance of crypto exchange with Anti-Money Laundering Directive (AMLD), financial crimes laws and users safeguarding measures.
Crypto.com is now expected to serve the users in Spain with the offering of its products and services suite.
With the concerns around cryptocurrencies, many countries now seek to regulate crypto, or at least to bring crypto service providers within the regulatory regime. Exchanges are also keen to attain the license for better compliance with the regional regulations to avoid any regulatory violation.
Chief Executive Officer of Crypto.com, Kris Marszalek, stated the recent VASP registration of the crypto firm from the Bank of Spain came as the “latest testament” of the company’s vision committed with the “compliance and eagerness” of working with crypto and blockchain advancement supporting regulators and public officials.
‘We look forward to continuing to work with the Bank of Spain as we launch our products and services in-market and providing users with the comprehensive, safe and secure crypto experience that they desire.”
The 2016 founded crypto exchange has 80 Million customers worldwide, according to the official website. Crypto.com also holds regulatory licenses in Singapore, France, the United Kingdom, South Korea, Dubai, and several other countries.
CoinMarketCap data suggests Crypto.com supports 247 cryptocurrencies on its platforms. The liquidity over the platform in the last 24 hours was $102,561,499.
Crypto Firms Expanding Across APAC
Earlier, crypto exchange Gemini reported to look for expansion in Singapore after receiving the regulatory license by the financial regulator, Monetary Authority of Singapore (MAS). Seeking expansion in the region, the company is also said to hire about hundred employees to carry out the operations.
Blockchain payment protocol, Ripple, recently received a regulatory license from MAS. The company in an announcement noted to gain the in-principle approval. Following the license, the firm would be able to offer digital asset products and services in the region. In addition, it would also be able to facilitate its On-Demand Liquidity (ODL) services to the users in the region.
Ripple Markets Asia Pacific, Singapore based subsidiary of Ripple, is said to take care of the services and offerings in the region. With the step coming forward, the payment protocol ensures its place in the emerging market opportunities in the Asia Pacific (APAC) countries.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
