Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, announced that its Spanish subsidiary, Moon Tech Spain, S.L., has been granted registration as a virtual asset services provider(VASP) by the Bank of Spain.

This 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 statement.

Moon Tech Spain, which had applied for registration on January 28, was granted registration by the Bank of Spain on July 7.

The Bank of Spain oversees and ensures compliance with AML and CTF rules for VASPs offering exchange services for euros or other currencies for crypto assets, as well as custody services for electronic wallets.

It also verifies compliance of the local entity and its directors with the commercial and professional honorability requirements.

This milestone follows European registrations for Binance’s local entities in France and Italy and further attests to the robustness of Binance’s AML and CTF controls.

“Effective regulation is essential for the widespread adoption of cryptocurrencies. We have invested significantly in compliance and introduced AMLD 5 and 6 compliant tools and policies to ensure that our platform remains the safest and most trustworthy in the industry,

“Moon Tech’s registration in Spain is an acknowledgement of the hard work and commitment of our teams to providing a platform that places user protection above all else,” said Changpeng Zhao (CZ), Founder and Chief Executive Officer of Binance.

Binance Spain Director Quim Giralt said ““Following this registration, we will significantly expand our team and operations in Spain to make our services more accessible to everyone. Over the coming years we will be hiring local talent to serve the Spanish-speaking market and helping to grow the local crypto ecosystem.”

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume.

Trusted by millions worldwide, the firm is commited to increasing financial freedom for users, and features an unmatched portfolio of crypto products and offerings, including: crypto spot trading, education, data and research, decentralization and infrastructure solutions, and more.

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