Crypto.com expands global reach with VASP registration in Spain News โธ EU · Spain โธ Crypto.com โธ Exchanges
Crypto.com expands global reach with VASP registration in Spain
Crypto.com has secured a litany of regulatory licenses across various jurisdctions, including Singapore, Dubai etc.
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Updated: Jun. 23, 2023 at 3:46 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Cryptocurrency exchange Crypto.com said in a June 23 announcement that it received a Virtual Asset Service Provider (VASP) registration from the Bank of Spain, allowing it to offer its products and services to users in the country.
The Singapore-based crypto platform stated that it underwent a “comprehensive review of its compliance with Anti-Money Laundering Directive (AMLD) and other financial crimes laws” before its registration was approved.
Kris Marszalek, Crypto.com CEO, described the VASP registration as the latest testament to the company’s “commitment to compliance and eagerness to work with regulators and public officials in responsibly advancing crypto and blockchain technology.”
Marszalek added:
“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 exchange further stated that the approval continues its regulatory license momentum, having received approval from regulators in other countries such as the United Kingdom, Singapore,ย South Korea, Australia, France, Dubai, Italy, Greece, Cyprus, and the Cayman Islands.
Meanwhile, the registration is coming in less than a few days after the exchange was accused of a potential conflict of interest with its operation of an internal trading team and a market maker on its platform.
However, Crypto.com reportedly said there was nothing to worry about as its internal market maker is treated like an external one.
Crypto exchanges prepare for MiCA
With the highly anticipated Markets in Crypto Assets (MiCA) regulations all but finalized, several crypto exchanges like Binance have been making moves in Europe to remain compliant with the law.
The EU website states that the MiCA law forms part of a broader digital finance package. This package seeks to develop a European approach that promotes technological advancement and guarantees financial stability and consumer protection.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Zaeem, an editor fascinated by business, finance, DeFi, and cryptocurrencies, holds a business and finance degree. His 14-year career in financial journalism spans sectors like banking, finance, insurance, and tech.
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In this article
Crypto.com
Crypto.com was founded in 2016 on a simple belief: itโs a basic human right for everyone to control their money, data and identity.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Kris Marszalek is a Polish entrepreneur and the CEO of Singapore-based crypto and payments platform Crypto.com.
