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Crypto.com Confirms its Status as a Virtual Asset Provider in Spain

by BSC News

June 23, 2023

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Crypto.com secures Virtual Asset Service Provider status in Spain, authorized to offer a range of crypto services while ensuring compliance with regulations and user safety.

Crypto.com has officially solidified its position as a Virtual Asset Service Provider (VASP) in Spain, as confirmed by the prestigious Bank of Spain. 

This significant achievement comes after an extensive evaluation of Crypto.com's compliance with the Anti-Money Laundering Directive (AMLD) and various financial crime regulations, ensuring the utmost safety for its users.

As a registered VASP, the Centralized Exchange (CEX) gains the authority to provide a range of virtual asset services to individuals and businesses within the Spanish market. This includes offering a comprehensive suite of crypto-related solutions, such as secure digital asset storage, cryptocurrency trading, and seamless fiat-to-crypto transactions.

The acquisition of the VASP registration further enhances Crypto.com's credibility and reputation in the global crypto landscape. By successfully meeting the stringent regulatory requirements set forth by the Bank of Spain, Crypto.com has demonstrated its commitment to upholding the highest security and compliance standards.

This development is also a significant step towards expanding the availability and accessibility of crypto services in Spain. As the adoption of cryptocurrencies continues to grow, a registered VASP like Crypto.com ensures that individuals and businesses can confidently engage in crypto-related activities while adhering to regulatory guidelines.

With its newfound status as a Virtual Asset Provider in Spain, Crypto.com is poised to play a pivotal role in shaping the future of the country's crypto ecosystem and empowering users with innovative financial solutions.

Read the exchange’s official announcement on June 23 for more information. 

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