Crypto.com has secured a registration as Virtual Asset Service Provider (VASP) in Spain. As of today, it will offer its products and services to users in the European country.
The regulatory approval was given by the Bank of Spain after a comprehensive review of its compliance with the Anti-Money Laundering Directive (AMLD). This also includes other financial crime laws as well as measures to safeguard users. The Singapore-based crypto exchange, which has over 80 million customers worldwide, tags itself as the industry leader in regulatory compliance, security and privacy.
Talking in line of the company’s vision of ‘Cryptocurrency in Every Wallet’, its CEO, Kris Marszalek, commented on the latest feat saying: “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.”
The Bank of Spain had issued instructions on the procedure for registering with the central bank to offer crypto-related services back in 2021. Binance, Bitstamp and banking platform BVNK are some of the firms which have been registered so far.
The other countries where the firm has been well-received by regulators include: Singapore, France, United Kingdom, Dubai, South Korea, Australia, Italy, Greece, Cayman Islands. It also bagged a pre-registration undertaking with the Ontario Securities Commission and Canada Securities Administrators.
It was just at the start of this month when Crypto.com had secured a licence for digital payment token (DPT) services by the Monetary Authority of Singapore (MAS). Getting into the list of licensed payment institutions in its home country was an important achievement for the company.
