Binance secures Virtual Asset Services Provider license from Spanish central bank

Binance CEO Changpeng’CZ’ Zhao publication The subsidiary will be on July 8th Moontech Spain Had secured Virtual Asset Service Provider (VASP) License from the Bank of Spain.

#Binance Protect your virtual asset service provider registration in Spain

“This registration will enable Binance to provide crypto asset exchange and custody services in Spain in compliance with the requirements of the Central Bank’s AML / CTF rules.”https://t.co/FPWFndDN4p

CZ Binance (@cz_binance) July 8, 2022

Binance in Europe

Registration allows Binance to: We provide crypto asset exchange and storage services in Spain in compliance with Spain’s Anti-Money Laundering (AML) and Counterterrorism Financing (CTF) regulations.

A Blog post Regarding this matter, it became clear that registration was permitted on July 7. However, the application process started on January 28, six months ago.

The Spanish license follows the recent successful registrations in France and Italy, and the company suggests that it is evidence of its robust AML and CTF controls.

Commenting on this, CZ said it has made a significant investment in developing appropriate compliance tools and processes. This focus makes Binance the “most secure and most reliable” cryptographic exchange.

We have invested heavily in compliance and have implemented AMLD 5 and 6 compliant tools and policies to keep the platform the safest and most reliable in the industry.

He reiterated a previous statement during a global crackdown last summer, stating that user protection remains the company’s top priority.

What’s next?

Quim Giralt, director of Binance Spain, said this marked the beginning of the expansion into Spain and improved access to crypto services throughout the region.

At the same time, the company plans to hire local talent over the next few years to accelerate the expansion and growth of the Spanish crypto market.

In the next few years, we will hire local talent to serve the Spanish-speaking market and support the growth of the local crypto ecosystem.