Crypto Exchange Coinbase Completes Registration in Spain

Coinbase has secured an Anti-Money Laundering (AML) compliance registration from the Bank of Spain, making it a registered crypto exchange in the country.

In a Friday blog post, the largest cryptocurrency in the US revealed its expansion across Europe, saying that Spanish users can now confidently store their digital assets on the platform, as well as engage in buying and selling crypto assets using the euro.

The registration with the Bank of Spain allows Coinbase to offer its full suite of products and services to both retail and institutional users in Spain while ensuring compliance with the country's legal framework.

Over the past year, Coinbase has obtained Virtual Asset Service Provider (VASP) registrations in several European countries, including Italy, Ireland, and the Netherlands. 

It has also received in-principle approval and launched its services in Singapore, Brazil, and Canada.

"We are excited to have achieved this registration from the Bank of Spain to support and grow our retail consumers, institutional clients and developer partners in Spain," Nana Murugesan, Vice President of International and Business Development at Coinbase, said. 

Coinbase's registration in Spain closely follows the regulatory approval received by crypto exchange Crypto.com from the Bank of Spain in June. 

In line with its expansion efforts, Coinbase has reportedly made attempts to acquire defunct crypto exchange FTX Europe on two occasions. 

(Source: cryptonews)