Binance Secures Registration in Spain Through Its Moon Tech Subsidiary

The company can now offer crypto trading and custody services in the country.

AccessTimeIconJul 8, 2022 at 11:01 a.m. UTC
Updated May 11, 2023 at 4:21 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto exchange Binance's Spanish subsidiary, Moon Tech Spain, has been granted registration as a virtual asset services provider by the country's central bank.

  • Registration allows Binance to offer crypto exchange and custody services in Spain in compliance with the country's anti-money laundering and counter-terrorist financing rules, it said Friday.
  • The Bank of Spain's approval follows similar registrations for Binance in France and Italy in recent months.
  • Having obtained approval to operate in Bahrain, Abu Dhabi and Dubai earlier this year, Binance has been seeking to expand its regulatory ambit in Europe.
  • Last year, the world's largest crypto exchange by trading volume received a string of warnings from regulators about its lack of authorization to operate or offer certain services in their markets. These included the U.K. and Italy.
  • Since then, it has been beefing up its regulatory and compliance teams.
  • Binance now plans to expand its headcount and operations in Spain by hiring local workers to serve the Spanish-speaking market.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.