Crypto.com secures VASP registration in Spain toward ‘Cryptocurrency in Every Wallet’

Rick Steves

“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.”

Crypto.com has announced it has secured its long-awaited Virtual Asset Service Provider (VASP) registration from the Bank of Spain, a significant milestone for the crypto exchange as the US market becomes a regulatory minefield.

The registration followed a comprehensive review of its compliance with Anti-Money Laundering Directive (AMLD) and other financial crimes laws, as well as measures to safeguard users.

The VASP registration in Spain follows several registrations and regulatory approvals in other jurisdictions, including Singapore, France, the United Kingdom, Dubai, South Korea, Australia, Italy, Greece, Cyprus, the Cayman Islands, the United States, and Canada.

Working with regulators and public officials in responsibly advancing crypto

Founded in 2016, Crypto.com has grown its client base to more than 80 million customers worldwide, while maintaining its focus on regulatory compliance, security, and privacy.

‘Cryptocurrency in Every Wallet’ is Crypto.com’s motto as it is committed to accelerating the adoption of cryptocurrency through innovation and empowering the next generation of builders, creators, and entrepreneurs to develop a fairer and more equitable digital ecosystem.

Crypto.com will now be able to offer a suite of its products and services to users in Spain.

Kris Marszalek, CEO of Crypto.com, said: “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.”

Crypto.com’s regulatory licence momentum is made out of several milestones, including:

  • securing Major Payment Institution (MPI) licence for Digital Payment Token (DPT) and its MPI for e-money issuance, account issuance, cross border and domestic money transfer services from the Monetary Authority of Singapore;
  • registration as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France;
  • registration approval as a crypto asset business from the UK Financial Conduct Authority (FCA);
  • approval of its MVP Preparatory Licence from the Dubai Virtual Assets Regulatory Authority (VARA);
  • Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea;
  • registration approval as a Digital Currency Exchange Provider and Independent Remittance Dealer in Australia by AUSTRAC;
  • an Australian Financial Services Licence and Australian Credit Licence from the Australian Securities and Investments Commission (ASIC);
  • registration in Italy from the Organismo Agenti e Mediatori (OAM);
  • registration in Greece from the Hellenic Capital Market Commission;
  • registration in Cyprus from the Securities and Exchange Commission;
  • regulatory approval from the Cayman Islands Monetary Authority;
  • a US Commodity Futures Trading Commission (CFTC) regulated Derivatives Clearing Organization (DCO) and a Designated Contracts Market (DCM);
  • a pre-registration undertaking with the Ontario Securities Commission and Canada Securities Administrators

 

Read this next

Institutional FX

Verto launches EM FX marketplace: NGN, ZAR, XAF, XOF, KES, GHS, UGX

“We’ve seen significant pent-up demand looking for counterparties, which is one of the reasons we’re launching this product. We built Verto Marketplace to directly address these systemic issues, offering a platform that provides the control, transparency, and cost-efficiency that traders, brokers, and corporate treasurers need.”

Payments

BVNK launches Swift payments to move between fiat and stablecoins

“Adding USD and EUR via Swift means that our customers can really take full advantage of stablecoins to speed up their money movement, wherever they are based – and they can easily get back into fiat currencies if and where they need to.”

Market News

Base metals could soon take off from the base again

Dive into our full analysis to understand the potential resurgence of base metals and what it could mean for your investment strategy.

Digital Assets

Global clamp down on crypto tax evasion to go live in 2027

“As jurisdictions that play host to active crypto markets, we therefore intend to work towards swiftly transposing the CARF into domestic law and activating exchange agreements in time for exchanges to commence by 2027.”

Digital Assets

Ripple and Archax team up for tokenization with XRPL

“There is clear real-world utility in use cases like RWA tokenization for the operational efficiency, access to liquid markets and transparency inherent to crypto, and Archax has already tokenized assets such as equities, debt instruments and money market funds. Financial institutions are now understanding this and we are excited to play our part in helping them to embrace the technology by bringing their assets onto the XRPL.”

Interviews

Acuity Trading at iFX EXPO LATAM: Andrew Lane on the rise of AI and prop trading

At iFX EXPO LATAM 2024, Acuity Trading’s Andrew Lane discussed the successful rollout of their Research Terminal, the impact of AI on the trading industry, competition from AI-powered solutions, emerging market trends in Latin America, and the rise of prop trading, while addressing regulatory challenges and innovations.

blockdag

Top Crypto Highlights for Q2 2024: BlockDAG’s Astonishing 1120% Growth Compared to Solana’s Surge and Toncoin’s Market Triumph

Explore the latest highlights in cryptocurrency: Solana’s recovery, Toncoin’s record levels, and the rise of BlockDAG’s innovative technology.

Digital Assets

Ripple seeks $10 million penalty citing Terraform fine in SEC case

Ripple Labs wants to reduce the financial penalties proposed by the U.S. Securities and Exchange Commission (SEC) by leveraging recent fines imposed on Terraform Labs.

Digital Assets

Swiss regulator shuts down CoinShares’ partially-owned FlowBank

Switzerland’s financial regulator, FINMA, has closed FlowBank SA and placed it into bankruptcy due to severe breaches of capital requirements and other supervisory laws. This follows a series of enforcement actions against the bank that began in October 2021.

<