Coinbase has recently obtained a registration for Anti-Money Laundering (AML) compliance from the Bank of Spain, which establishes it as a fully registered crypto exchange in the country. The announcement was made in a blog post, where Coinbase also mentioned its expansion across Europe and its ability to offer services to Spanish users.
The registration allows Coinbase to provide its range of products to both retail and institutional customers in Spain while adhering to the country’s legal requirements. Coinbase has previously obtained similar registrations in other European countries and has expanded its services to Singapore, Brazil, and Canada. Nana Murugesan, Vice President of International and Business Development at Coinbase, expressed excitement about the registration, highlighting the increasing recognition of the crypto industry by regulatory authorities. Spain has shown increased friendliness towards the digital asset sector, with growing adoption and acceptance of cryptocurrencies for payments and investments.
In June, Crypto.com also received regulatory approval from the Bank of Spain. Coinbase’s expansion in Europe aligns with the call for stricter oversight in the global crypto market by non-European regulators. The upcoming implementation of the Markets in Crypto-Assets Regulation (MiCA) Act has raised concerns in the crypto sector, particularly regarding the potential delisting of stablecoins in Europe.