Binance Secures Virtual Asset Service Provider Registration in Spain

CZ: Regulation is ‘essential for the widespread adoption’ of crypto.

VASP Licence Granted July 7 from the Bank of Spain

In a blog post published on July 8, Binance announced that its Spanish subsidiary, Moon Tech Spain, S.L., obtained registration as a Virtual Asset Services Provider (VASP) from the Bank of Spain. The registration to operate in this capacity was granted to Moon Tech Spain on July 7 following an application for the same on Jan. 28. 

Commenting on the achievement, Binance founder and CEO Changpeng Zhao (CZ) said:

“Effective regulation is essential for the widespread adoption of cryptocurrencies. We have invested significantly in compliance and introduced AMLD 5 and 6 compliant tools and policies to ensure that our platform remains the safest and most trustworthy in the industry. Moon Tech’s registration in Spain is an acknowledgment of the hard work and commitment of our teams to providing a platform that places user protection above all else.”

Source

The registration comes several months after Spanish securities market regulator National Securities Market Commission (CNMV) took to Twitter to warn professional footballer Andrés Iniesta of the risks associated with crypto assets after the player made promotional tweets about Binance.

As part of its push for global expansion, Binance recently signed an agreement with the Securities and Exchange Regulator of Cambodia (SERC) to help build and develop the securities sector within Cambodia, as reported by BSC News.

What is Binance:

Binance is the world’s largest cryptocurrency exchange, founded in Shanghai, China, by Changpeng Zhao (CZ). Binance supports over 740 trading pairs on its platform. 

With a low transaction fee (0.1%) as well as fast transaction processing, Binance has become the exchange with the largest trading volume in the cryptocurrency market. Binance exchange’s technology can process 1.4 million orders per second, making it a top exchange in terms of the trading volume.

Where to find Binance:

Website | Twitter | Discord | Telegram |

‍Source : bsc.news

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