The Bank of Spain has already included 17 virtual asset service providers in its own registry, in which cryptocurrency exchanges and custody providers must be listed to operate, according to Spanish law. Three new companies were included last week, but big names in the crypto ecosystem are still not registered.
The crypto registry is mandatory for crypto companies to operate in the country, and was created in a change to a Spanish law that now requires crypto companies to follow certain guidelines to prevent money laundering and terrorism financing.
While the registry has been very successful with local companies, making them register their operations and implementing the compliance tools for money laundering purposes, the reception by bigger international exchanges has not been as successful. Names like Binance and other large exchanges are still out of the list and are part of a list of exchanges currently in regulatory limbo.
According to reports, the company is already in talks to be included in the crypto registry of the Bank of Spain, but it has still not been approved by the central bank.
What do you think about the progress of the crypto registry of the Bank of Spain? Tell us in the comments section below.
