Crypto.com has obtained a Virtual Asset Service Provider (VASP) license from the Bank of Spain, the exchange announced today (Friday). The license was issued after the exchange met the requirements of anti-money laundering regulations and other financial crime laws.
Chris Marsalek, CEO of Crypto.com commented, “Achieving a VASP registration from the Bank of Spain is the latest demonstration of our commitment to compliance and eagerness to work with regulators and public officials in responsibly advancing crypto and blockchain technology.
Crypto.com has received similar regulatory approvals in the UK, France, South Korea, Singapore, Italy and Australia, among several other regions. In Singapore, the exchange is working on a Master Payment Institution (MPI) license for Digital Payment Tokens (DPT) from the Monetary Authority of Singapore (MAS).
The license was granted after the exchange received a license in principle from the Singaporean regulator in June 2022. Further, MAS has granted Crypto.com a license for electronic money issuance, account issuance, and cross-border and domestic money transfer services.
In the United Kingdom, Crypto.com is licensed for the crypto asset business by Financial Conduct Authority (FCA
Financial Conduct Authority (FCA)
The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK), and the UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also Responsible for regulating conduct in retail and wholesale financial markets, overseeing the trade infrastructure that supports those markets, and prudential regulation of businesses not regulated by the PRA. its turn
The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK), and the UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also Responsible for regulating conduct in retail and wholesale financial markets, overseeing the trade infrastructure that supports those markets, and prudential regulation of businesses not regulated by the PRA. its turn
Read this term), while in France, the exchange operates a Digital Asset Service Provider (DASP) license. Furthermore, the Singapore-based company has obtained a Minimum Viable Product (MVP) preparatory license to offer spot and derivative instruments for virtual assets.
cipher regulation
Crypto.com obtaining a license in Spain comes at a time when cryptocurrency exchanges are rushing to get approvals in different jurisdictions. Rival Gemini Exchange announced at the beginning of June that it was seeking to start operations in the United Arab Emirates. According to the Winklevoss exchange, which is owned by the twins, residents of the UAE have been adopting cryptocurrencies, especially for use in purchases.
Conversely, in the US, Crypto.com was forced to suspend institutional exchange services due to low demand and prevailing market conditions, the company said at the beginning of June. However, retail users still access the exchange’s derivatives trading services.
The Securities and Exchange Commission (SEC), the US financial market regulator, has recently stepped up enforcement action against digital asset platforms. Binance and Coinbase, for example, are facing charges brought against them by the regulator.
Crypto.com has obtained a Virtual Asset Service Provider (VASP) license from the Bank of Spain, the exchange announced today (Friday). The license was issued after the exchange met the requirements of anti-money laundering regulations and other financial crime laws.
Chris Marsalek, CEO of Crypto.com commented, “Achieving a VASP registration from the Bank of Spain is the latest demonstration of our commitment to compliance and eagerness to work with regulators and public officials in responsibly advancing crypto and blockchain technology.
Crypto.com has received similar regulatory approvals in the UK, France, South Korea, Singapore, Italy and Australia, among several other regions. In Singapore, the exchange is working on a Master Payment Institution (MPI) license for Digital Payment Tokens (DPT) from the Monetary Authority of Singapore (MAS).
The license was granted after the exchange received a license in principle from the Singaporean regulator in June 2022. Further, MAS has granted Crypto.com a license for electronic money issuance, account issuance, and cross-border and domestic money transfer services.
In the United Kingdom, Crypto.com is licensed for the crypto asset business by Financial Conduct Authority (FCA
Financial Conduct Authority (FCA)
The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK), and the UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also Responsible for regulating conduct in retail and wholesale financial markets, overseeing the trade infrastructure that supports those markets, and prudential regulation of businesses not regulated by the PRA. its turn
The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK), and the UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also Responsible for regulating conduct in retail and wholesale financial markets, overseeing the trade infrastructure that supports those markets, and prudential regulation of businesses not regulated by the PRA. its turn
Read this term), while in France, the exchange operates a Digital Asset Service Provider (DASP) license. Furthermore, the Singapore-based company has obtained a Minimum Viable Product (MVP) preparatory license to offer spot and derivative instruments for virtual assets.
cipher regulation
Crypto.com obtaining a license in Spain comes at a time when cryptocurrency exchanges are rushing to get approvals in different jurisdictions. Rival Gemini Exchange announced at the beginning of June that it was seeking to start operations in the United Arab Emirates. According to the Winklevoss exchange, which is owned by the twins, residents of the UAE have been adopting cryptocurrencies, especially for use in purchases.
Conversely, in the US, Crypto.com was forced to suspend institutional exchange services due to low demand and prevailing market conditions, the company said at the beginning of June. However, retail users still access the exchange’s derivatives trading services.
The Securities and Exchange Commission (SEC), the US financial market regulator, has recently stepped up enforcement action against digital asset platforms. Binance and Coinbase, for example, are facing charges brought against them by the regulator.