Crypto.com checks in Spain After shutting U.S. Ops
The Crypto.com exchange has endured a difficult year. Following the FTX debacle, rumours circulated that the exchange was likewise insolvent, causing its CRO token to plummet to previously unheard-of lows.
Furthermore, Crypto.com recently shut down its institutional business in the United States. However, Crypto.com is not without hope: the exchange recently received a regulatory licence in Spain.
One of the most popular centralised cryptocurrency exchanges, Crypto.com, is expanding to Spain. The exchange stated on Friday that it has secured a crypto licence in the country.
The Virtual Asset Service Provider (VASP) registration obtained by Crypto.com from the Bank of Spain will enable the exchange to offer a spectrum of products and services to Spanish users.
Crypto.com revealed that it had to thoroughly review its compliance with Anti-Money Laundering Directive (AMLD) and other financial crimes laws to safeguard users.
(With inputs from Shikha Singh)
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