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.
This is a major milestone for the exchange in the country, that had applied to receive this certification since January. The company is now allowed to offer its cryptocurrency trading and custody services in the country with the approval of the Spanish authorities. About this achievement, Changpeng “CZ” Zhao, founder and CEO of Binance, stated:
Effective regulation is essential for the widespread adoption of cryptocurrencies. 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.
According to statements from Quim Giralt, director of Binance Spain, the company has plans to expand its operations and reach in Spain after this development. In a statement, Giralt declared:
Following this registration, we will significantly expand our team and operations in Spain to make our services more accessible to everyone. Over the coming years we will be hiring local talent to serve the Spanish-speaking market and helping to grow the local crypto ecosystem.
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