- CryptoCom receives regulatory approval in Spain after completing comprehensive compliance processes.
- The exchange is registered with the Bank of Spain as a virtual asset service provider (VASP).
- Other major platforms, such as Binance and Bitstamp, have also registered in Spain.
CryptoCom, a leading cryptocurrency exchange, has obtained regulatory approval in Spain after successfully completing various compliance processes. The exchange has been registered with the Bank of Spain as a virtual asset service provider (VASP), allowing it to offer its products and services to Spanish crypto customers.
CryptoCom Approved in Spain
As part of its regulation and compliance processes, CryptoCom registered with the Bank of Spain. The exchange is now licensed as a virtual asset service provider (VASP) in the country. This registration covers various compliance processes in Spain, particularly those related to anti-money laundering and financial crimes. After passing a detailed examination, the exchange obtained its license, enabling it to serve crypto customers in Spain.
The Bank of Spain opened its registry for crypto service providers in 2021. Major platforms such as Binance, Bitstamp, and banking institution BVNK have also registered in Spain. CryptoCom is the latest crypto service provider to join this list.
Global Expansion Continues
While cryptocurrency exchanges face pressure from US regulators, they continue to undergo compliant processes in other parts of the world. Many exchanges are expanding their operations, particularly in Europe and Asia. Binance is expanding into Kazakhstan, while Coinbase is approaching Europe. CryptoCom’s regulatory approval in Spain is another example of this ongoing global expansion.
Adapting to Regulatory Requirements
Crypto exchanges are increasingly focusing on adhering to regulatory requirements in various jurisdictions. Obtaining licenses and registrations, such as the VASP license in Spain, allows these platforms to operate legally and offer their services to customers in different countries. This trend is expected to continue as more countries introduce regulations for the crypto industry and exchanges seek to expand their global presence.
