Binance gets nod from Spain to offer crypto exchange, custody services

Binance’s third approval in Europe came after the Bank of Spain allowed its Spanish subsidiary to register as a virtual asset services provider (VASP), the world’s largest crypto exchange by volume said Friday.

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Fast facts

• The registration will allow Binance to offer crypto asset exchange and custody services in Spain in compliance with the requirements of its central bank’s anti-money laundering and counter-terrorist financing (AML/CTF) rules, Binance said in a press release.

• The approval comes after authorities in France and Italy allowed Binance to offer crypto-related services in May. It has also sought a similar license in Germany.

• Meanwhile, Binance is facing scrutiny from regulators and law enforcement agencies in the U.S., Canada, Hong Kong, the U.K., Japan, Israel, and South Africa.

• Binance has withdrawn from Australia and Singapore and is facing a ban from Malaysia.

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