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.

AccessTimeIconJun 23, 2023 at 10:11 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

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."

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.

Edited by Parikshit Mishra.

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies 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 with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Sandali Handagama

Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She does not own any crypto.


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.