Crypto:
29881
Bitcoin:
$68.505
% 1.10
BTC Dominance:
%52.7
% 0.31
Market Cap:
$2.57 T
% 0.03
Fear & Greed:
75 / 100
Bitcoin:
$ 68.505
BTC Dominance:
% 52.7
Market Cap:
$2.57 T

Coinbase Registered with Bank of Spain

Coinbase Registered with Bank of Spain

Coinbase has been registered with the Bank of Spain, the central bank of Spain, as a cryptocurrency exchange and wallet provider.

This registration will allow Coinbase to offer all its products and services to retail and institutional users in Spain in compliance with national legal framework. Also this registration will make it easier for customers in Spain to invest in cryptocurrencies, and this approval from the Central Bank of Spain is a very important step for the trust in cryptocurrencies.

Coinbase is actively striving to expedite registrations across multiple parts of the world and is diligently taking crucial steps to advance the crypto industry.

Users in Spain will now be able to access the following services:

  • Storing of crypto assets
  • Buying or selling of crypto assets in exchange for legal currency
  • Exchange of crypto assets with other crypto assets

Additionally the Vice President in Charge of International and Business Development at Coinbase, Nana Murugesan, commented on the registration; “We are excited to obtain this registration from the Central Bank of Spain. We are taking this step to support and grow our retail customers, institutional customers, and developer partners in Spain. Many countries around the world are starting to offer clarity and guidance for the crypto industry. Just last year, we obtained VASP registrations in Italy, Ireland and the Netherlands, we also received principle approval in Singapore and became operational, we became functional in Brazil and most recently in Canada. Working with regulators in these regions is a key step in our international growth strategy and helps us maintain our momentum.”

Coinbase stated that the countries that will adopt the crypto industry faster are their primary priorities. In this context, the company stated that it is rapidly advancing its operations and aiming to actively operate in numerous markets in the long term.

You might like: Coinbase Considering Purchasing FTX Europe!

Why Coinbase wanted to get approval from the Central Bank of Spain:

  • 29% of adults in Spain believe that cryptocurrency is the future of finance.
  • Cryptocurrencies have now become the second most popular payment method in Spain, surpassing bank transfers.
  • A study conducted by Bitnovo revealed that 60.7% of Spanish citizens feel motivated to purchase cryptocurrency for long-term investments, whereas 35.7% express a motivation to use it for payments.
  • There are 178 blockchain initiatives in the Financial Services field in Spain.
  • The total demand for blockchain skills in Spain has significantly exceeded estimates.

The Cryptocurrency Markets Regulation (MiCA) was recently approved by European Union policy makers. The regulatory rules provided by MiCA have increased the trust in cryptocurrencies in many countries. As a result, many countries have started to grant registration approval for cryptocurrency exchanges.

Coinbase Registered with Bank of Spain, further solidifying trust in cryptocurrencies as global acceptance and regulatory approval continue to shape the future of the crypto industry.


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