Cryptocurrency exchange oinbase">Coinbase has received an anti-money laundering (AML) registration from the Bank of Spain. The license allows oinbase">Coinbase to provide its full range of crypto services to retail and institutional customers in Spain.
In a blog post, oinbase">Coinbase announced its expansion in the Spanish market. According to the company’s Vice President of International and Business Development, Nana Murugesan, the registration enables oinbase">Coinbase to “support and grow our retail consumers, institutional clients and developer partners in Spain.”
Spain has become increasingly crypto-friendly lately. Per oinbase">Coinbase, about 29% of Spanish adults now believe crypto represents the future of finance. Crypto has also emerged as the second most preferred payment method after bank transfers.
The exchange pointed to research showing 60.7% of Spaniards want to buy crypto for long-term investments, while 35.7% aim to use it for payments.
oinbase">Coinbase’s AML license follows similar approval obtained by Crypto.com from Spanish regulators in June. These developments signal growing recognition of crypto by authorities in Spain amid rising adoption.
As part of its European expansion, oinbase">Coinbase has reportedly attempted to acquire the defunct exchange FTX Europe twice. The company is also pushing for stricter oversight of the global crypto market by non-European regulators.
Meanwhile, some in crypto are unhappy about upcoming EU regulations like MiCA. Binance’s Marina Parthuisot recently raised concerns over potential stablecoin delistings under the new rules.
