Bank of Spain grants Bit2Me the first cryptocurrency exchange license

The Bank of Spain registered Bit2Me as the country’s first licensed provider of fiat-to-virtual currency exchange and custody of electronic wallets.

Bit2Me is the world’s first exchange recognized by the @BancoDeEspana. 🙌

A new milestone for the sector #cripto that demonstrates our progress and that of the entire ecosystem.#Bitcoin is unstoppable. 🚀

More info: https://t.co/WPMbn9Uqhz pic.twitter.com/bNdb7YDz13

— Bit2Me (@bit2me) February 17, 2022

The regulator’s approval means that the exchange meets “the requirements of commercial and professional responsibility of credit institutions, as well as compliance with all anti-money-laundering and counter-terrorist-financing rules,” the company blog said.

Bit2Me offers services to residents from more than 100 countries. According to the firm, a fifth of its 500,000 users are in Spain.

In El Pais noted that the regulator’s license will allow local credit institutions to integrate the exchange’s platform into their services to provide clients with access to the market of digital assets.

Earlier in November 2021, the Bank of Spain requested information from leading financial institutions in the country about plans related to cryptocurrencies.

Earlier it was disclosed that the National Securities Market Commission (CNMV) and the central bank, along with the ECB will gain authority to regulate the digital assets market in the country.

Before that, the CNMV warned 12 companies about the prohibition of operating without registration. The list included cryptocurrency exchanges Huobi and Bybit.

Subscribe to ForkLog’s channel on YouTube!