Bank AI

Bitcoin

Read

<div class="cryptonews"> 
 <p class="is-style-lead">Coinbase secured authorization from the Bank of Spain as an official Bitcoin (BTC) and digital assets exchange and custodial wallet service provider. </p> 
 <p class="is-style-default">This milestone empowers Coinbase to extend its complete range of offerings to both retail and institutional users in Spain and Europe.</p> 
 <h2 class="wp-block-heading" id="coinbase-secures-bank-of-spain-approval">Coinbase secures Bank of Spain approval&nbsp;</h2> 
 <p>In a Sept. 22 blog post, Nana Murugesan, the Vice President of International and Business Development at Coinbase, described the Bank of Spain’s approval as a significant achievement. Coinbase can now <a rel="noopener noreferrer nofollow" title="expand" href="https://thebittimes.com/tag/expand.html">expand</a> its services for retail consumers, institutional clients, and developer partners in the region, she explained.</p> 
 <p>Murugesan further stated that It’s noteworthy that many countries are providing much-needed clarity and guidance for the crypto industry. </p> 
 <p>Over the past year, Coinbase has successfully obtained Virtual Asset Service Provider (VASP) registrations in Italy, Ireland, and the Netherlands, received in-principle approval for launching in Singapore, initiated operations in Brazil, and, most recently, started offering its services in Canada.&nbsp;</p> 
 <p>According to Murugesan, Coinbase views the implementation of well-defined regulations, the development of more efficient and accessible products and services, and the establishment of user trust through these offerings as the core elements of its long-term growth strategy. </p> 
 <p>Recall in 2020, Coinbase launched a Visa debit card in Spain that allows users to spend their cryptocurrency at any merchant that accepts the Visa card.&nbsp;</p> 
 <p>Coinbase’s registration with the Bank of Spain comes amid talks of Coinbase’s acquisition of FTX Europe, a cryptocurrency exchange that has been gaining traction in Europe.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Coinbase shows interest in FTX Europe amid global crypto derivatives expansion 
 </div> 
 <h2 class="wp-block-heading" id="sec-s-crypto-onslaught-and-mica-regulation">SEC’s crypto onslaught and MiCA regulation</h2> 
 <p>In June, the U.S. Securities and Exchange Commission (SEC) leveled allegations against Coinbase, asserting that the exchange operated as an unregistered securities exchange, broker, and clearing agency. </p> 
 <p>This allegation stems from Coinbase’s purportedly unlawful facilitation of buying and selling crypto asset securities, combining the functions of an exchange, broker, and clearing agency without obtaining the necessary registrations mandated by the Commission.</p> 
 <p>However, Coinbase CEO Brian Armstrong has voiced vehement criticism of the SEC, characterizing their regulatory approach as unjust and unreasonable when applied to digital assets.</p> 
 <p>The actions taken by the SEC have served as a clear signal to crypto exchanges and have the potential to reshape a market that has, for the most part, functioned without regulatory oversight. Furthermore, the SEC’s vigorous enforcement actions against crypto firms have raised concerns about fairness and equitable treatment. It’s notable that traditional financial institutions often receive opportunities for correction and support, while crypto exchanges face immediate scrutiny.</p> 
 <p>Last year, European Union policymakers adopted the Markets in Crypto Assets (MiCA) regulations. This development is significant as Spain is a member of the European Union.</p> 
 <p>The forthcoming implementation of MiCA regulations across Europe is expected to bring clarity and regulatory oversight to the cryptocurrency market, potentially fostering increased adoption. </p> 
 <p>This development could position Coinbase as a hub for cryptocurrency trading within the European landscape, allowing the exchange to serve users in Spain and other European countries.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Coinbase expands offerings with web3 wallet for institutional clients 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-expands-in-europe-with-new-bank-of-spain-license-tbt63808.html">https://thebittimes.com/coinbase-expands-in-europe-with-new-bank-of-spain-license-tbt63808.html</a></p>

Coinbase expands in Europe with new Bank of Spain license

목차

TheBitTimes

2023년 9월 23일에 게재된 다른 기사

XRP Lawyer John Deaton Denies Having Any Insider Information on Ripple Inc.

PSG soccer club, Drop CEO collaborate on AI-generated NFT posters

PEPE Gained 20% in One Day, What Could Be Behind the Rally?

VeChain Crypto: VET Price tumbled 6%; Will VETUSD Shed More?

Polygon's 0.12% Price Surge to $0.5219: Key Insights for September 23, 2023

XRP Set to Soar: Expert Forecasts $4.4 to $5 Price Surge

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!