- Coinbase registered with the Bank of Spain to offer crypto custody and trading services.
- The exchange has lauded the improving regulatory environment, referring to Europe’s MiCA.
Coinbase registered, on Monday, with the Bank of Spain to offer its full suite of products and services. Spain users will enjoy buying and selling digital assets in fiat and trading against other crypto assets. The users will also access Coinbase’s custody services.
The registration is part of the US exchange’s global expansion. The VP of International and Business Development, Nana Murugesan, commented on the successful milestone;
“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.”
Coinbase now joins the likes of Bitstamp and Crypto.com as some of the exchanges registered with the Bank of Spain.
Uncertain Regulatory Landscape
The registration happens amid an uncertain crypto licensing regime in Spain. The Bank of Spain mandates crypto firms to register with the regulator before offering their services.
In the latest announcement, Coinbase said the world is stepping up and providing clarity in the crypto sector. The exchange has obtained registrations in the Netherlands, Italy, and Ireland. It also has in-principle approvals in Singapore and Brazil.
Recently, Europe came up with the Markets in Crypto-Assets (MiCA) to offer clarity for the crypto sector. Coinbase said the MiCA regulations acknowledge the vital role of emerging technologies. Enacting clear rules and efficient, accessible products and services will be critical to long-term sector growth.
