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Binance Secures Registration in Spain Through Its Moon Tech Subsidiary

Jamie Crawley - CoinDesk
2022-07-08 11:01
Crypto exchange Binance's Spanish subsidiary, Moon Tech Spain, has been granted registration as a virtual asset services provider (VASP) by the country's central bank.
  • Registration allows Binance to offer crypto exchange and custody services in Spain in compliance with the country's anti-money laundering and counter-terrorist financing (AML/CTF) rules, it said Friday.
  • Bank of Spain approval follows similar registrations for Binance in France and Italy in recent months.
  • Having obtained approval to operate in Bahrain, Abu Dhabi and Dubai earlier this year, Binance has been seeking to expand its regulatory ambit in Europe.
  • Last year the world's largest crypto exchange by trading volume received a string of warnings from regulators about its lack of authorization to operate or offer certain services in their markets. These included the U.K. and Italy.
  • Since then it has been beefing up its regulatory and compliance teams.
  • Binance now plans to expand its headcount and operations in Spain, hiring local talent to serve the Spanish-speaking market.
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