Bank of Spain Approves Its First VASP License – Bitcoin News - BitcoinEthereumNews.com
The Bank of Spain, the central bank of the country, has recognized the first cryptocurrency platform that will be able to operate and provide officially approved services in the country. The first exchange to receive this approval was Bit2me, which is now approved to act as a virtual asset service provider (VASP). While this is the first platform approved, others will have to complete the lengthy process established in the law to serve Spanish users. Spain Starts Licensing VASPs The Bank of Spain approved the first platform to act officially as a recognized virtual asset service provider (VASP) in the country. Bit2me, which is a Spain-headquartered cryptocurrency platform available in more than 100 countries, has been the first to receive this license that allows it to operate in the country after having worked with the regulator to show it fulfills the requirements defined by law. The exchange celebrated, stating in a press release that: The entry of Bit2Me in the registry of the Spanish regulator is one more step in the massive adoption of Bitcoin and the rest of cryptocurrencies in Spanish society. The new registry that VASPs need to complete in Spain derives from a change in the Prevention of Money Laundering and Financing