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<p class="is-style-lead">Spain has granted regulatory approval to Ripio, allowing the crypto exchange to provide its customers with a range of cryptocurrency products as the country establishes itself as a good hub for bitcoin and web3 companies.</p> 
<p>In another significant development for the cryptocurrency industry, Spain’s regulatory authorities have officially granted Ripio crypto exchange a Virtual Asset Service Provider (VASP) license.&nbsp;</p> 
<p>The approval, <a href="https://twitter.com/sserrano44/status/1673698527938002947" target="_blank" rel="noopener">announced</a> by the company’s CEO, allows Ripio to offer its comprehensive range of cryptocurrency products and services to customers in Spain. This move follows the footsteps of leading exchanges like <a href="https://crypto.news/largest-spanish-crypto-exchange-bit2me-goes-global-with-airdrop-1-million-participants-in-72-hours/">Bit2Me</a> and Bitpanda, which have already obtained regulatory approval to establish their operations within the country.&nbsp;</p> 
<p><a href="https://crypto.news/spain-launched-euro-pegged-stablecoin-trials/">Spain</a>‘s commitment to creating a favorable environment for bitcoin (<a href="https://crypto.news/bitcoin-price/">BTC</a>)-linked businesses has gained momentum with the passing of the Markets in Crypto Assets (<a href="https://crypto.news/mica-explained-what-does-the-eus-first-crypto-regulation-mean-for-the-industry/">MiCA</a>) bill in April. Based on the MiCA regulation, Spain aims to become a hotbed for platforms operating in the crypto world.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/crypto-exchange-bitstamp-registered-to-operate-in-spain/"> Crypto exchange Bitstamp registered to operate in Spain </a> </p> 
<p>Ripio’s services include a trading platform, a crypto wallet, and a debit card.&nbsp;The card lets users pay for goods and services using their crypto wallet’s balance and offers cashback rewards in <a href="https://crypto.news/coinbase-raises-usdc-rewards-to-4-amid-sec-regulatory-scrutiny/">USDC</a> stablecoin. Ripio has over 8 million retail users across multiple countries and more than 1,000 institutional clients.</p> 
<p>Spain boasts over seventy registered virtual currency and e-wallet service providers, including Binance, which operates in the country through its subsidiary. This demonstrates leading crypto exchanges’ growing interest and participation in the Spanish market.</p> 
<p> You might also like: <a href="https://crypto.news/european-investment-bank-uses-blockchain-for-environmental-bond/"> European Investment Bank uses blockchain for environmental bond </a> </p> 
<p>The approval granted to Ripio and other crypto companies in Spain signals the country’s commitment to fostering a positive environment for the industry. Binance recently <a href="https://crypto.news/binance-revises-stance-on-privacy-coin-listings-in-europe/">revised</a> its stance on privacy coin listings for European traders and securing information security certifications. This demonstrates the region’s growing acceptance and recognition of the potential benefits of digital assets.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="Spanish Crypto Exchange Bit2Me Raises $15 Million for Expansion in Spain and Latin America" width="1020" height="574" src="https://www.youtube.com/embed/PBtq0ryjrMI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="curbing-crypto-crime">Curbing crypto crime&nbsp;</h2> 
<p>While Spain embraces the crypto industry’s growth, it remains vigilant in tackling crypto-related crimes. A recent report in April revealed the dismantling of a criminal group in Spain responsible for a widespread bitcoin fraud scheme. The group had defrauded over 3,000 victims worldwide, resulting in a loss exceeding €100 million ($110 million).&nbsp;</p> 
<p>With a supportive regulatory framework and a commitment to preventing illicit activities, Spain is positioning itself as a crypto-friendly destination within Europe. The expanding presence of registered virtual currency and e-wallet service providers, including Ripio and Binance, reflects the increasing interest and participation of leading crypto exchanges in the Spanish market.</p> 
<p>Europe’s positive attitude towards cryptocurrencies could foster innovation, attract investments, and ensure the industry’s integrity. Spain is set to capitalize on the opportunities presented by digital assets, benefiting businesses and investors.</p> 
<p> Read more: <a href="https://crypto.news/bitstamp-to-introduce-new-lending-product-in-europe/"> Bitstamp to introduce new lending product in Europe </a> </p>

Spanish authorities approve Ripio exchange to offer crypto products

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