Binance Gets License To trade As Virtual Asset Service Provider In Spain -crypto news predictions

Cryptocurrency Exchange Binance is registered with the Bank of Spain to provide cryptocurrency trading and custody services through MoonTech’s subsidiaries. This license allows Binance to comply with national anti-money laundering (AML) and anti-terrorism financing (CTF) regulations required by the Spanish government. Currently, more than 17 companies are licensed by the government. Moon Tech Spain was registered with the Bank of Spain on July 7, 2022, following the application on January 28, 2022.

Binance Gets License To trade As Virtual Asset Service Provider In Spain -crypto news predictions

Control of the Spanish crypto ecosystem
Binance is licensed to operate as a Virtual Asset Service Provider (VASP) in Spain, one of the world’s largest cryptocurrency exchanges. Spanish authorities have discovered that the exchange operated by partner Moon Tech Spain has been issued a certificate after complying with all required AML / CTF regulations set by the country’s central bank. The Bank of Spain is responsible for overseeing compliance with AML / CTF rules by VASP, which provides euro and other currency exchange services for crypto assets. Bit2Me is the world’s first cryptocurrency platform recognized by the Bank of Spain as a virtual currency exchange trust currency and electronic wallet escrow service provider. We received such recognition in February 2022.

Champeng Zhao, Founder and CEO of Binance, said:

Effective management is important for the widespread adoption of cryptocurrencies. We invest heavily in compliance and deploy AMLD 5 and 6 compliant tools and policies to ensure that the platform is the safest and most reliable in the industry. Moon Tech’s registration in Spain recognizes our team’s efforts and efforts to provide a platform that puts user safety first and foremost.

Recently, digital asset service providers have seen great demand for cryptocurrency trading and wallet services in Spain. Quim Giralt, director of BinanceSpain, says the company wants to hire local talent to grow the country’s cryptocurrency market. He mentioned:

Once registered, you will significantly expand your team and business in Spain and make the service accessible to everyone. probably in the next few years, they will hire local talent to serve the Spanish-speaking market trades and support the growth of the cryptocoins ecosystem.

Disclaimer: This article is for informational purposes only. It is not intended to be used as legal, tax, investment, financial or other advice.