Binance is now registered as a Virtual Asset Service Provider in Spain, through its Spanish subsidiary Moon Tech Spain.
- Binance approved by Virtual Asset Service Provider in Spain
- The entity that approved it was the Bank of Spain.
- This through the Spanish subsidiary of the exchange: Moon Tech Spain.
El exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Binance, the world’s largest cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. platform by transaction volume, reported that its Spanish subsidiary, Moon a situation where there is a continuous upward movement in the price of a cryptocurrency. Often used in communities to question when a cryptocurrency will experience such a phenomenon, saying “When moon?” It is usually combined with “When Lambo?” Tech Spain , S.L. has been registered as Virtual Asset Service Provider (VASP) by the Bank of Spain.
As he points out, this registry will allow Binance to offer cryptoasset a cryptoasset is any digital asset that uses cryptographic technologies to maintain its operation as a currency or decentralized application. exchange and custody custody is a financial institution's legal capacity to keep and preserve financial assets for its clients to avoid asset theft or loss. services in Spain in accordance with the requirements of anti-money laundering and counter-terrorist financing regulations ( AML/CTF ) of its central bank. Moon Tech Spain was registered by the Bank of Spain yesterday, 7 July 2022, having applied for registration on 28 January 2022.
Hello Spain! ???????? #Binance has been granted registration as a Virtual Asset Services Provider (VASP) for its Spanish subsidiary by the Bank of Spain.
This will allow Binance to offer crypto asset exchange & custody in Spain in compliance with the central bank’s AML anti-money-laundering laws, regulations, and procedures that aim to end the unlawful income practices. & CTF rules.
– Binance (@binance) July 8, 2022
Binance registered in Spain
It is important to note that this registration is mandatory for companies that operate crypto and before Binance 15 crypto platforms had already been approved . The Banco de España supervises and enforces compliance with the regulations. AML/CTF of the VASP offering services of exchange of euros or other currencies for cryptoassets, as well as custody services for electronic wallets. The Bank of Spain also verifies the compliance of the local entity and its managers with the requirements of commercial and professional honorability.
On the subject, Changpeng Zhao (CZ), founder and CEO of Binance, he commented: “Effective regulation is essential to the widespread adoption of cryptocurrencies. We have invested significantly in compliance and introduced AMLD 5 and 6 compliant tools and policies to ensure our platform a place to buy, sell and store cryptocurrency remains the most secure and trusted in the industry. Moon Tech’s registration in Spain is recognition of the hard work and commitment of our teams to provide a platform that puts user protection above all else.”
And while many exchanges reduce staff Quim Giralt, director de Binance Spain, he said: “Following this registration, we will significantly expand our team and operations in Spain to make our services more accessible to everyone. In the coming years, we will be hiring local talent to serve the Spanish-speaking market an area or arena, online or offline, in which commercial dealings are conducted. and help grow the local crypto ecosystem.”
It is worth remembering that at the beginning of the year, Binance made the application for registration with the Bank of Spain, arguing the need for “ formally establish themselves in Spain and put down roots”. It is now that it receives the answer. It is an important milestone, as last year the exchange had a hard time, after its operations were restricted in many countries . Gradually it has been receiving official approval in countries like France e Italy. You are also looking for approval in Germany . The CEO of exchange, Changpeng Zhao, he never felt defeated and in a public letter in July 2021 responded to regulatory pressure.
Version of DiarioBitcoin
Imagen de Unsplash