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Bank of Spain Has Registered 17 Crypto Companies, Big Names Still Missing

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The Banco de España has already included 17 virtual asset service providers in its own registry, which must list crypto exchanges and custody service providers under Spanish law. Three new companies were included last week, but there are still no big names in the crypto ecosystem.

Cryptocurrency registry of the Bank of Spain covers 17 companies

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Register of Virtual Asset Service Providers (VASP) of the Bank of Spain reached last week there were 17 companies, including three more crypto businesses. In June, the registry added several exchanges and custody companies, including Jobchain España, Jobchain Austria, Criptan Trade, Eurocoin Broker, Lemacoin Crypto Solutions, Bitpanda, and Vottun.

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The registry of these companies accelerated in June, with most cryptocurrency exchanges registering as local companies that want to be sure they comply with Spanish laws. Since the bank opened its ledger last year, it has added several crypto companies, starting with Bit2me, which was approved in February. The roster now includes CR Tecnología y Finanzas, Bitcoininforme, Bit Base, Blox, Trade Republic Bank, Globalstar Technologies, Onyze Digital Assets, Bitgo Deutschland and BTC Direct Europe other than the companies mentioned above.

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The crypto registry is mandatory for the operation of crypto companies in the country and was created as a result of a change in Spanish law, which now requires crypto companies to comply with certain rules in order to prevent money laundering and terrorist financing.

Big names are still missing

While the ledger has been very successful for local companies, forcing them to register their transactions and implementing compliance tools for money laundering purposes, acceptance by larger international exchanges has not been as successful. Names such as Binance and other major exchanges are still not listed and are part of the list of exchanges that are currently in limbo.

Binance, in particular, was named on a gray list issued by the Bank of Spain, which includes cryptocurrency exchanges operating in the country. The company was recently reprimanded by CMNV, the country’s securities watchdog, which ordered Binance to stop offering cryptocurrency-related derivatives, including futures contracts, to Spanish users of its platform.

According to reports, the company is already in talks to be included in the crypto registry of the Bank of Spain, but has not yet been approved by the central bank.

What do you think about the progress of the Bank of Spain Crypto Registry? Tell us in the comments section below.

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Credit : news.bitcoin.com

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