Notable names of crypto exchange are missing in a list of Crypto Companies

Notable names of crypto exchange are missing in a list of Crypto Companies | best cryptocurrency exchange app

The Bank of Spain has already listed 17 virtual asset service providers. Although three new businesses were added last week, many well-known names in the cryptocurrency sector are still not listed.

Last week, three more cryptocurrency businesses were added to the Bank of Spain's list of virtual asset service providers (VASPs), bringing the total to 17 firms. Several exchanges and custody firms, including Jobchain España, Jobchain Austria, Criptan Trade, Eurocoin Broker, Lemacoin Crypto Solutions, Bitpanda, and Vottun, were added to the list in June.

In June, the registration of these businesses picked up speed, with most local businesses registering bitcoin exchanges to ensure they are in compliance with Spanish rules. The bank has added a number of cryptocurrency businesses since opening its registry last year, beginning with Bit2me, which was certified in February. In addition to the above mentioned businesses, the registry now also includes C.R. Tecnología y Finanzas, Bitcoininforme, Bit Base, Blox, Trade Republic Bank, Globalstar Technologies, Onyze Digital Assets, Bitgo Deutschland, and BTC Direct Europe.

Due to a change in Spanish law, which mandates that cryptocurrency businesses follow to certain rules in order to avoid money laundering and the financing of terrorism, the crypto register is necessary for them to conduct business in the nation. 

While the registry has been quite successful in getting local businesses to register their operations and use the regulatory tools to prevent money laundering, larger multinational exchanges have not responded to it. A list of exchanges that are now in regulatory limbo includes names like Binance and other well-known exchanges that are still not included on the list.

A grey list of cryptocurrency exchanges operating in Spain was released by the Bank of Spain and includes Binance particularly. CMNV, the nation's securities authority, recently punished the business and ordered Binance to stop providing cryptocurrency-related derivatives, such as futures contracts, to Spanish users on its platform.

The company is reportedly in discussions to be included in the Bank of Spain's cryptocurrency registration, but the central bank has not yet given its approval.