Coinbase Successfully Registers With Spain's Central Bank

Crypto speech Coinbase (COIN) has registered with the cardinal slope of Spain to supply speech and custody services successful the country, the institution announced Monday.

Registration with the Bank of Spain is a mandatory step to offering crypto-related services, and registered firms person to comply with the country's anti-money laundering standards.

While the state does not person a licensing authorities for crypto firms yet, Spain volition beryllium required to instrumentality 1 nether the European Union's precocious finalized MiCA regularisation for crypto issuers and work providers acceptable to instrumentality effect successful 2024.

"The regulatory clarity MiCA provides to the manufacture is hugely welcome, and shows that the portion is recognizing the imaginable that emerging exertion tin provide," the institution said successful Monday's announcement.

Coinbase joins companies similar Crypto.com and Bitstamp successful registering with the Spanish regulator.