The Finvest
  • Finance
  • Markets
  • Personal Finance
  • Retirement
  • Debt
  • Forex
  • Cryptocurrency
What's Hot

Mortgage Rates Are Sinking, but Don’t Try to Time the Housing Market

December 10, 2023

Transferring home to 6 heirs could be unwieldy at best. Talk to a professional

December 10, 2023

Key dates announced for Christmas and New Year payments

December 10, 2023
Facebook Twitter Instagram
Facebook Twitter Instagram
The Finvest
Subscribe
  • Finance

    US CPI, Fed Decision to Guide US Dollar, Setups on EUR/USD, USD/JPY, GBP/USD

    December 10, 2023

    Banking Giant Pays $122,900,000 Fine for Helping Americans Hide $5,600,000,000 in Secret Accounts

    December 9, 2023

    Dow, S&P 500 Edge Higher After November Jobs Report

    December 8, 2023

    Japanese Yen hangs near daily low against USD, focus remains glued to US NFP report

    December 8, 2023

    Ether (ETH) Traders Gaining Favor Over Bitcoin after Latter’s Spike to $44K

    December 6, 2023
  • Markets

    Mortgage Rates Are Sinking, but Don’t Try to Time the Housing Market

    December 10, 2023

    Tsakos Energy Navigation Remains A Buy After Q3 Earnings In A Red-Hot Tanker Market (NYSE:TNP)

    December 10, 2023

    Inflation and portfolio earnings hold the keys to the market in the week ahead

    December 9, 2023

    Why Markets Care About A Federal Reserve Meeting Where No Rate Change is Expected

    December 9, 2023

    We Don’t Have ‘Immaculate Disinflation,’ and Markets Are Too Bullish on Rate Cuts

    December 8, 2023
  • Personal Finance

    Transferring home to 6 heirs could be unwieldy at best. Talk to a professional

    December 10, 2023

    How Much the Average Person 65 and Older Spends Monthly

    December 10, 2023

    Should you keep money with your employer’s 401(k) plan after retiring?

    December 9, 2023

    Take Social Security at Age 62, but Only If You Do This With Each Check

    December 9, 2023

    What’s the average Social Security payment at ages 62, 66 and 71 — and how does your check stack up?

    December 7, 2023
  • Retirement

    Key dates announced for Christmas and New Year payments

    December 10, 2023

    Retirement Planning: How Much the Average Person 65 and Older Spends Monthly

    December 10, 2023

    Why are Gen X workers in the UK so pessimistic about retirement?

    December 9, 2023

    Why pandemic early retirement became a permanent choice for many

    December 9, 2023

    3 moves worth making if you’re worried about running out of money in retirement

    December 8, 2023
  • Debt

    Juniper Networks (NYSE:JNPR) Has A Rock Solid Balance Sheet

    December 10, 2023

    He Owes Huge Debts -Lady Narates Why Her Ex-Boyfriend Refused To Let Her Post His Photos Online

    December 10, 2023

    Don’t Pay Off Student Loan Debt — Buy Properties Instead

    December 9, 2023

    Former Rideshare Driver In Debt After Wreck On The Job

    December 9, 2023

    How does debt relief work?

    December 8, 2023
  • Forex

    Crude Oil: Weekly Forecast 10th December

    December 10, 2023

    Hana Bank hosts foreign exchange quiz for employees

    December 10, 2023

    Multichoice hikes DStv, GOTV prices after $72m forex loss

    December 9, 2023

    Markets Peel Back Hopes for BoJ Policy Change

    December 9, 2023

    Master Direction part of Initiative for forex market risk management: Das

    December 8, 2023
  • Cryptocurrency

    A Beginner’s Guide – The Crypto Basic

    December 10, 2023

    Tether Freezes 41 Crypto Wallets Tied to Sanctions

    December 9, 2023

    Crypto users launch lawsuit against Mercedes F1 team

    December 9, 2023

    SLO County sheriff warns of cryptocurrency phone scam

    December 8, 2023

    BBVA migrates crypto custody service to Ripple-owned Metaco’s Harmonize

    December 8, 2023
The Finvest
Home»Finance»Coinbase secures AML registration from the Bank of Spain
Finance

Coinbase secures AML registration from the Bank of Spain

finvestadminBy finvestadminSeptember 24, 2023No Comments3 Mins Read
Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDkvYjA0MDczZTgtNjIxYy00NGUzLTk3ZWYtOWZjNjA4NTI3N2Q1LkpQRw.jpg
Share
Facebook Twitter LinkedIn Pinterest Email

Cryptocurrency exchange Coinbase has received anti-money laundering (AML) compliance registration from the Spanish Central Bank as part of its continued expansion across Europe.

According to a report on September 22nd statementregistration with the Bank of Spain will allow Spanish users to maintain custody of their crypto assets on Coinbase as well as buy and sell crypto assets in Spain’s legal currency, the euro.

“This registration will enable Coinbase to offer our full suite of products and services to retail and institutional users in Spain, in compliance with the national legal framework.”

It highlighted that almost a third of Spanish individuals have a positive outlook towards digital assets. “29% of Spanish adults believe that cryptocurrencies are the future of finance,” the report states.

It further pointed out that cryptocurrencies are now the second most preferred payment method in Spain, surpassing traditional bank transfers.

Nana Murugesan, vice president of international and business development at Coinbase, said the exchange continues to pursue regulatory compliance around the world:

“In the last year alone, we have received VASP registration in Italy, Ireland and the Netherlands, as well as in-principle approval and launch in Singapore, launch in Brazil and most recently in Canada.”

We are excited to announce another major international milestone for Coinbase with today’s VASP registration from the Bank of Spain

The clarity of cryptocurrency regulation in the EU is helping to accelerate expansion efforts in the region. https://t.co/W78LHKzcB5

— Nana Murugesan ️ (@NanaMurugesan) September 22, 2023

This comes on the heels of cryptocurrency exchange Crypto.com receiving regulatory approval in Spain. On June 23, Crypto.com announced that it has been granted Virtual Asset Service Provider (VASP) registration by the Bank of Spain.

In October 2021, the Bank of Spain provided guidance on the steps that cryptocurrency service providers can take to achieve anti-money laundering (AML) compliance in the country.

The instructions specify that virtual currency exchanges must submit a report detailing their efforts to prevent illegal activities such as money laundering and terrorist financing.

Related: Coinbase owns 5% of all Bitcoins in existence: Data

Meanwhile, recent reports suggest that Coinbase is aiming to establish a strong presence in Europe.

On September 22nd, Cointelegraph reported that Coinbase had twice attempted to acquire FTX Europe, a now-defunct cryptocurrency exchange. The first trial took place in November 2022, when FTX filed for bankruptcy, and then again in September 2023.

This comes as the European Parliamentary Research Service (EPRS) recently highlighted the need for non-European regulators to exercise stricter oversight of the global cryptocurrency market.

As the Markets in Cryptocurrency Regulation (MiCA) Act progresses towards its December 2024 implementation deadline, the EPRS report urges the establishment of a stricter regulatory framework in non-EU countries.

“In the context where MiCA applies, the EU remains dependent on the policy actions of non-EU countries, so there are several channels through which the EU’s financial system and autonomy remain at risk.”

magazine: How to protect your cryptocurrencies in volatile markets: Bitcoin OG and experts share their thoughts