Crypto.Com Expands In Europe While Binance Faces Hurdles

Crypto News: Crypto.Com, a leading crypto exchange on Friday announced receiving registration clarity in Spain. As per the release, the Bank of Spain granted the crypto exchange with Virtual Asset Service Provider (VASP) license. However, this development comes in when the biggest crypto exchange by trading volume, Binance is facing compliance hurdles in Europe.

Also Read: Ripple Highlights CBDC Adoption; XRP Price Drops 3%

Crypto.Com Makes Major Move In Europe

In order to gain a VASP permit in Spain, Crypto.com went under review for compliance with Anti-Money laundering rules, AMLD, and other finance linked directives. The crypto exchange will now be able to provide its suite of products and services to Spain’s digital asset users.

Kris Marszalek, CEO of Crypto.com stated that receiving the Virtual Asset Service Provider permit in Spain shows their commitment towards compliance in working with global regulators.

Meanwhile, Crypto.com received a backlash over allegedly deploying internal teams to trade tokens for profit making. This has led to major concerns in the crypto industry. Read More Crypto News Here…

(THIS IS A DEVELOPING NEWS)

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Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

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