Binance granted a Virtual Assets Provider license in Spain

Binance has received approval as a Virtual Asset Services Provider (VASP) in Spain, the leading crypto exchange and trading platform said on Friday.

The company, which already boasts registration in France and Italy via local subsidiaries, announced its VASP license in Spain was granted via Moon Tech Spain.

Binance CEO Changpeng Zhao commented on the approval in a tweet, noting that it now allows the exchange to offer its services in Spain – all in compliance with set regulatory requirements, including anti money laundering (AML) and counter terrorism financing (CFT).

Regulation is essential, says Zhao

Binance, which had found itself in regulatory crosshairs across several countries and jurisdictions in recent years, has steadily created an outlook of a dependable platform, embracing regulatory approaches meant to help its growth as well as protect customers.

Zhao, aka CZ, commented on this, noting in a statement that his company sees regulation as an essential part of eventual mass adoption of crypto. 

Binance Spain is looking to expand its team, tapping into local crypto talent to better serve the Spanish market.

The Binance chief noted:

The Bank of Spain granted the registration on July 7, 2022, Binance said in a blog. Moon Tech Spain, the exchange’s subsidiary, applied for the VASP on January 28, 2022.