Binance Makes New Crypto Registration In Spain

Binance makes new crypto registration in Spain as a part of its expansion plan in Europe after France and Italy so let’s read more today in our latest Binance news.

Binance makes new crypto registration in Spain and announced that its Spanish subsidiary Moon tech Spain was registered with the Bank of Spain as a Virtual Asset Service Provider. Binance CEO Changpeng Zhao added in a statement:

“Moon Tech’s registration in Spain is an acknowledgment of the hard work and commitment of our teams to providing a platform that places user protection above all else.”

Binance started its VASP registration and after the approval a day ago, the crypto exchange can offer services in Spain in full complaince with the central bank’s anti-money laundering and counter-terrorist funding rules. The Bank of Spain will monitor the complaince of the local entity and the directors in the country’s commercial and professional honorability standards. Zhao added:

“We have invested significantly in compliance and introduced AMLD 5 and 6 compliant tools and policies to ensure that our platform remains the safest and most trustworthy in the industry.”

Spain became the third country in the EU region to give a green light to Binance. Both Italy and France licensed the exchange as the official digital asset provider. Binance secured the main space in Paris’ start-up incubator Station Fe and its opening is a part of the Objective Moon $101 million Web3 investment initiative which the exchange announced a year ago. The initiative aims to develop the Binance Research and Development hub in France in order to recruit talent in the country. Binance is also developing online education materials for French learners and creating a professional netowrk dubbed Objective Moon Accelerator that can connect the companies in the sector.

A spokesman said that:

 “the EU has the potential to become a frontrunner in the crypto and blockchain industry. With a consistent regulatory framework on the horizon with MiCA, there’s a huge opportunity for Europe to position itself as the global hub for our industry.”

In the meantime, rival exchanges FTX and Coinbase are expanding their frontiers in Europe and the wider Securities and Exchange Commission approved the launch of FTX in Europe as the affiliate of the popular platform after FTX US launched in 2019. Coinbase also reported that it has plans to hire a regional manager and oversee the EU expansion.