Coinbase Receives AML Registration from the Central Bank of Spain

Coinbase Receives AML Registration from the Central Bank of Spain

Cryptocurrency exchange Coinbase is working on expanding into Europe. In this context, while expanding in Europe, Coinbase has received Anti Money Laundering (AML) Compliance Registration from the Central Bank of Spain. This was announced by Coinbase on September 22. Registration with the Bank of Spain means that Spainish users will now be able to maintain custody of their crypto assets on Coinbase. With this, Spanish users will also be able to buy and sell crypto assets in Euro. In fact, almost one-third of people in Spain have a positive attitude towards digital assets. Whereas in Spain, 29% of adults believe that crypto is the future of finance. Along with this, it has also been seen that crypto has become the second most preferred payment method in Spain, leaving behind traditional bank transfers. From this it can be inferred that the expansion of crypto is touching new heights.

Coinbase is innovating after SEC victory

Coinbase has been continuously focusing on its expansion since its victory from SEC. Also, it is busy in creating its own identity in the digital market. For this reason Coinbase is now targeting Spain. According to the report, Coinbase has received Anti Money Laundering (AML) compliance registration from the Central Bank of Spain, following the regulatory approval received by Crypto.com. Let us tell you that on June 23, Coinbase has also received Virtual Asset Services Provider registration from the Bank of Spain.

Recently Cryptocurrency Exchange Coinbase started a crypto lending service for institutional investors in the USA. Coinbase, behind starting this service, says that the crypto lending service will help in reducing the failures arising in the crypto lending market. Meanwhile, Coinbase launched the Ethereum layer-2 network on August 9 to promote the development of decentralized apps. Let us tell you that Brian Armstrong, CEO of Coinbase, is continuously making new innovations regarding crypto. Now Brian Armstrong wants to establish a strong position for himself in Europe. For this reason they have announced the receipt of this registration in Spain.

Read Also : Mining Efficiency is Continuously Increasing Before Bitcoin Halving