Singapore-based cryptocurrency exchange, Crypto.com, has successfully obtained Virtual Asset Service Provider (VASP) registration from the Bank of Spain, marking a significant regulatory milestone for the company. The registration allows Crypto.com to offer its suite of products and services to users in Spain, further expanding its presence across Europe.
In an effort to ensure compliance with the Anti-Money Laundering Directive (AMLD) and other financial crimes laws, Crypto.com underwent a thorough review before receiving the VASP registration.
This achievement demonstrates the company’s commitment to regulatory compliance and its willingness to collaborate with regulators and public officials in promoting the responsible advancement of crypto and blockchain technology.
Kris Marszalek, the CEO of Crypto.com, expressed his enthusiasm for the partnership with the Bank of Spain, emphasizing their dedication to providing users in the Spanish market with a comprehensive, safe, and secure crypto experience [1].
This latest milestone adds to Crypto.com’s impressive list of regulatory achievements, including licenses and registrations from various regulatory authorities worldwide.
Expanding Global Regulatory Compliance
Crypto.com has been at the forefront of regulatory compliance and has secured licenses and approvals from numerous jurisdictions. In addition to the VASP registration in Spain, the company has obtained major licenses and registrations, reinforcing its commitment to maintaining the highest standards in the crypto industry.
Notable regulatory achievements include the Major Payment Institution (MPI) license for Digital Payment Token (DPT) and e-money issuance, as well as account issuance, cross-border, and domestic money transfer services from the Monetary Authority of Singapore.
The company has also been registered as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France and has received approval as a crypto asset business from the UK Financial Conduct Authority (FCA).
Crypto.com’s regulatory journey extends beyond Europe and Asia. The company has secured approvals, licenses, and registrations in Dubai, South Korea, Australia, Italy, Greece, Cyprus, the Cayman Islands, the United States, and Canada, among others [1].
These achievements highlight Crypto.com’s global reach and its dedication to operating within established regulatory frameworks.
A Commitment to the Future of Cryptocurrency
Founded in 2016, Crypto.com has emerged as a trusted platform for over 80 million customers worldwide. The company’s primary focus lies in regulatory compliance, security, and privacy, as it aims to drive the adoption of cryptocurrency and foster a fairer and more equitable digital ecosystem.
With the tagline “Cryptocurrency in Every Wallet,” Crypto.com is committed to innovation and empowering the next generation of builders, creators, and entrepreneurs in the crypto space [3].
The VASP registration from the Bank of Spain aligns with Crypto.com’s mission and strengthens its ability to provide Spanish users with a comprehensive range of cryptocurrency products and services.
Looking ahead, Crypto.com aims to collaborate closely with the Bank of Spain as it prepares to launch its offerings in the Spanish market. By maintaining a proactive approach to regulatory compliance and actively engaging with regulators and public officials, Crypto.com strives to ensure a responsible and secure environment for crypto enthusiasts in Spain and beyond.
Conclusion
Crypto.com’s successful acquisition of VASP registration from the Bank of Spain marks a significant step for the company as it expands its operations into the Spanish market. With its unwavering commitment to regulatory compliance and its track record of securing licenses and approvals worldwide, Crypto.com is well-positioned to deliver a comprehensive and secure crypto experience to users in Spain.
