Bank of Spain Approves Its First VASP License
The Bank of Spain, the central bank of the country, has recognized the first cryptocurrency platform that will be able to operate and provide officially approved services in the country. The first exchange to receive this approval was Bit2me, which is now approved to act as a virtual asset service provider (VASP). While this is the first platform approved, others will have to complete the lengthy process established in the law to serve Spanish users. Spain Starts Licensing VASPs The Bank of Spain approved the first platform to act officially as a recognized virtual asset service....
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Binance, one of the largest crypto exchanges worldwide, has secured a license from the Bank of Spain that will let the exchange operate in compliance with the local laws. This certification means that the exchange is currently complying with its AML/KYC processes required by the government of the country. More than 17 companies have received this certification by now.
Binance Gets Operating License From the Bank of Spain
Binance, the cryptocurrency exchange, has received the certification of the Bank of Spain to operate as a Virtual Asset Service Provider (VASP) in the country.....
Changpeng Zhao, the CEO of Binance, said that compliance with regulation is very crucial to the broader adoption of crypto. Crypto exchange Binance has been registered as a virtual asset service provider (VASP) by the Bank of Spain. This allows the exchange to offer custody and crypto exchange services in the country legally. Binance said in an announcement on Friday that its Spanish subsidiary, called Moon Tech Spain, was registered as a VASP by the national central bank in Spain on July 7. It applied for registration in January. The exchange is now allowed to provide fiat currency....
Yellow Card’s CEO said that the Botswana VASP license is the first license for African crypto exchanges established by an African country. African crypto exchange Yellow Card has received a significant regulatory approval to continue expanding its operations across the continent.Yellow Card has obtained a virtual asset service provider (VASP) license from the Non-Bank Financial Institution Regulatory Authority (NBFIRA) of Botswana, according to the Oct. 19 announcement.The new license officially authorizes Yellow Card to allow its customers to buy and sell Bitcoin (BTC), Ether (ETH) and....
The archipelagic country of the the Philippines is exploring blockchain use cases across different industry verticals. Binance, the cryptocurrency exchange, has recently acquired a virtual asset service provider (VASP) license from the Bank of Spain in order to operate in the country. In its ambitious expansion plans that the cryptocurrency exchange is persisting despite the global jump and market slump in the cryptoverse, there is another country that Binance is looking toward — the Philippines.In June, the CEO of Binance, Changpeng Zhao, stated in a press briefing in Manila that the....
The Banko Sentral ng Pilipinas said that the closing of VASP applications begins on Sept. 1, 2022, and will last for three years. While many believe that the Philippines can become a new crypto hub, that dream may be shattered in the meantime as the country’s central bank announced a 3-year hiatus from accepting new virtual asset service provider (VASP) applications. According to a memorandum signed by Chuchi Fonacier, a financial supervision official at the Banko Sentral ng Pilipinas (BSP), they aim to balance the promotion of innovation in finance and managing the risks associated with....