Crypto.com Strengthens European Presence With Regulatory Nod From Bank Of Spain

Crypto.com, a prominent player in the cryptocurrency sector, has made strides in expanding its footprint in Europe.

What Happened: The company just secured a coveted registration as a Virtual Asset Service Provider (VASP) from the Bank of Spain.

This green light allows the platform to offer its extensive suite of products and services to customers in Spain, marking a significant move in its global expansion strategy.

Crypto.com CEO Kris Marszalek expressed enthusiasm about the new opportunity to serve the burgeoning cryptocurrency market in Spain.

“We look forward to continuing to work with the Bank of Spain as we launch our products and services in-market and providing users with the comprehensive, safe, and secure crypto experience that they desire,” Marszalek said.

The cryptocurrency exchange stated it underwent a rigorous evaluation, ensuring adherence to the Anti-Money Laundering Directive (AMLD) and various other financial crime regulations.

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Why It Matters: Marszalek highlighted the significance of this achievement, also stating, “Receiving the VASP registration from the Bank of Spain is the latest testament to our commitment to compliance and eagerness to work with regulators and public officials in responsibly advancing crypto and blockchain technology.”

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