Crypto.com announced the reception of a Virtual Asset Service Provider (VASP) registration in Spain. The license, which was given by the Bank of Spain, permits the crypto exchange to operate and offer services related to digital assets in the country.
The process was initiated through vigorous reviews of the crypto exchange to ensure compliance with the Anti-Money Laundering Directive (AMLD) and other financial crime laws aimed at protecting users in the country.
Crypto.com is a Singapore-based cryptocurrency exchange company. It was founded in 2016 under the name “Monaco” by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo.
The company has since grown to become one of the world’s largest cryptocurrency exchanges, serving over 80 million customers and employing thousands of individuals.
Crypto.com offers a wide range of cryptocurrency services, including buying and selling cryptocurrencies, trading cryptocurrencies, earning interest on cryptocurrencies, staking cryptocurrencies, and borrowing against cryptocurrencies.
Regarding the newly received license, Kris Marszalek, the CEO of the exchange, stated that the registration in Spain reaffirms the company’s commitment to collaborating with regulatory frameworks established by officials to promote the adoption of cryptocurrencies.
“We look forward to continuing to work with the Bank of Spain as we launch our products and services in-market and provide users with the comprehensive, safe, and secure crypto experience that they desire.”
In addition to Spain Spain, Crypto.com has been granted permission to operate in various countries and regions, including Singapore by the Monetary Authority of Singapore, France by the Autorité des marchés financiers (AMF), the UK by the UK Financial Conduct Authority (FCA), Dubai, South Korea, Australia, and others.
Earlier this year in Canada, Crypto.com had to delist USDT for all Canadian users due to regulatory compliance reasons.