Binance Registers as a Digital Assets Service Provider in Spain

July 8, 2022

Reading Time: 2 minutes

The world’s largest cryptocurrency exchange by trading volume, Binance through its Spanish subsidiary (Moon Tech Spain) on Friday, announced its expansion to Spain following approval by the bank of Spain.

In a statement by Binance CEO, “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.” 

“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,” added CZ.

The registration will permit Binance to offer crypto exchange custody in Spain in compliance with the Spain’s anti-money laundering as well as counter terrorist financing rules.

The bank of Spain will however monitor Binance compliance with the local entity and its directors with the country’s commercial and professional honorability standards.

Spain is the latest European Union country that the Binance CZ will secure a license as a virtual assets provider after France and Italy in May.

Binance’s quest for global expansion continues, having obtained an operational license in Abu Dhabi, Bahrain, and Dubai this year.

The exchange however, keeps its position as the world-leading cryptocurrency exchange and continues to do so amidst crypto crash, no wonder it is the exchange of choice for ParadiseFamilyVIP.

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