Cryptocurrency platform Crypto.com revealed on Friday that it has secured a Virtual Asset Service Provider (VASP) registration from the Bank of Spain. The new regulatory approval was granted to the company after a compliance review with Anti-Money Laundering Directive (AMLD) and other financial crimes laws, as well as measures to safeguard users.
With the new registration in Span, Crypto.com can now offer a suite of its products and services to users in the country.
Kris Marszalek, CEO of Crypto.com, commented:
Kris Marszalek Source: LinkedIn
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. We look forward to continuing to work with the Bank of Spain as we launch our products and services in-market and providing users with the comprehensive, safe and secure crypto experience that they desire.
Regulatory licence momentum
The latest registration in Spain for Crypto.com continues the cryptocurrency platform’s momentum of gaining regulatory approvals in the UK, France, South Korea, Singapore, Italy, Australia, and other regions. The company recently obtained a Major Payment Institution (MPI) licence for Digital Payment Token (DPT) from the Monetary Authority of Singapore (MAS) in Singapore. The license was granted following an in-principal approval from MAS the company gained in June 2022.
Furthermore, Crypto.com has acquired a license from MAS that allows the platform to provide e-money issuance, account issuance, and both cross-border and domestic money transfer services.
In the United Kingdom, Crypto.com possesses a license sanctioned by the Financial Conduct Authority (FCA) to engage in regulated crypto asset business. In France, the exchange operates under a license as a digital asset service provider (DASP). Moreover, as the company’s headquarters are situated in Singapore, they have been granted a Minimal Viable Product (MVP) Preparatory license in the UAE, enabling them to offer spot and derivatives instruments for virtual assets.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
