Spanish cryptocurrency exchange Bit2Me will become the first licensed digital asset trading and custody service provider in the country.
Bit2Me announced that it has received a license from the Central Bank of Spain, which will allow the exchange to provide local banks with services for trading and storing digital currencies on their platforms. The exchange is already negotiating with several banks in the country.
Obtaining the approval of the Central Bank of Spain means that the exchange complies with “the requirements of commercial and professional integrity that the government of the country has set for credit institutions, and also complies with all rules to prevent money laundering,” the statement says.
In October last year, the Central Bank of Spain issued a series of instructions obliging operators of cryptocurrency services to register. The rules apply both to foreign firms and to companies located in the country. The introduction of the rules is aimed at combating money laundering and other fraudulent activities.
Recall that in September last year, the Bit2Me exchange was able to implement one of the most successful initial token offerings (ICO) in the country – the company managed to raise €5 million in just a minute.
Source: Bits
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
