Binance stands as one of the most persistent crypto exchanges when it comes to gaining regulatory approval and operational licenses from regulators across the world. In this effort to operate as a fully licensed financial institution, the exchange has stopped offering its crypto derivatives services in Spain as it reportedly awaits approval from the Spanish regulator, Comisión Nacional del Mercado de Valores (CNMV). As evidenced by Binance’s official Spanish website, the crypto exchange removed the derivatives drop-down menu, which is still available on the global version. According to local news publication La Información, the move to hide derivatives offering in …

In Spain, companies across various industries — not just digital finance — have begun to apply blockchain technology to their operations. This disruptive technology has promoted pioneering projects in the country that are expected to add 20 billion euros to Spanish gross domestic product by 2030. As expectations around this technology increased in Spain throughout 2021, so did investment, hype and concerns regarding the stability and regulation of digital assets. Here, we will take a look at some of the most notable developments in the Spanish cryptocurrency and blockchain ecosystems throughout 2021. Central bank warns about risks of crypto investment …

Over the last week, regulators in three major jurisdictions across two continents introduced new rules governing cryptocurrency-related promotions and advertisements. Citing consumer risks associated with digital asset investments, authorities in the United Kingdom, Singapore and Spain tightened the requirements around crypto firms’ marketing messaging and customer recruitment practices. While some experts view this emerging trend as a sign of a new global phase of cryptocurrency regulation, questions about the efficiency and universal applicability of this approach persist. New measures In the United Kingdom, Her Majesty’s Treasury issued a report summarizing the results of a public consultation on crypto-asset promotions, published …

Last week, two central banks dropped public reports that can have a sizable impact on the crypto landscape in their respective countries and beyond. The U.S. Federal Reserve published a discussion paper entitled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” which summarizes years of the Fed’s research on CBDCs. Meanwhile, the Central Bank of Russia released a report that called for a blanket ban on domestic cryptocurrency operations and mining. Both documents are framed as an invitation for public discussion, but the kinds of discussions that they will trigger are likely to be very different. …

Spanish financial regulator Comisión Nacional del Mercado de Valores, or CNMV, announced new regulations for crypto-asset investments advertising. According to the new circular that will take effect on February 17, 2022, crypto ads must be “clear, balanced and fair” while also providing sufficient information on the risks involved when investing in crypto. The new rules also require advertisers targeting 100,000 people or more to inform the regulator ten days in advance. After the initial report, the remaining ad activities will be supervised by the CNMV, but will not require advanced reporting. The CNMV also made it clear that influencers are …

Deputy for the Spanish Ciudadanos political party María Muñoz has proposed a bill to make Spain a Bitcoin mining hotspot following the internet shutdown that caused a mining outage in Kazakhstan. The lawyer and economist Muñoz was steadfast in her support of Spain as a Bitcoin (BTC) destination, in a tweet on Friday: “The protests in Kazakhstan have repercussions all around the world but also for Bitcoin. We propose that Spain positions itself as a safe destination for investments in cryptocurrencies to develop a flexible, efficient and safe sector.” A two-page open letter accompanied the tweet directed at the Spanish …

Spanish LGBT-related token MariCoin (MCOIN) has responded to the community following skepticism around the project’s concept and goals. Some had even criticized the project for its name, which played on a homophobic slur in Spanish. But according to key people in the project, they have simply misunderstood. MariCoin CEO Francisco Alvarez told Cointelegraph that the project’s name is about “turning an insult into a fortress,” referring to peculiarities of tackling homophobic language as the very word word “gay” is still being used as an insult in some communities. “In Spain it is very common for members of the gay community …

The cryptocurrency community has raised concerns about Maricoin, a new token supposedly related to the LGBT+ community, with some people even suspecting the project to be a scam. Launched in December 2021, Maricoin promises to enable a “social, ethical, transparent and transversal means of payment” targeting the global “pink economy,” which is estimated to amount to trillions of dollars. One might question Maricoin’s ethics though, as its name is a portmanteau that plays on a Spanish slur for homosexuals. According to the project’s website, Maricoin runs on the Algorand blockchain, with creators planning to list the token on several crypto …

A major financial regulator in Spain has put out a warning regarding soccer star Andres Iniesta for promoting major cryptocurrency exchange Binance. Iniesta, a prolific midfielder who has played for Barcelona and the Spanish national team, was promoting Binance on his social media profiles on Instagram and Twitter. On Nov. 24, Iniesta posted several pictures of him next to a laptop showing the Binance website on the screen as well as holding a smartphone reflecting several major crypto markets, including Bitcoin (BTC) and Binance Coin (BNB). Hola,@andresiniesta8, los criptoactivos, al ser productos no regulados, tienen algunos riesgos relevantes. Es recomendable …

Digital currency plans by Spanish banks must now be reported according to sources at the Banco de España, who claimed that the central bank wants to examine the effect that digitalization is having on financial services. The Bank of Spain has been quiet for years on the subject of digital currencies. However, this year, it's stepping up and asserting itself. After establishing a digital currency service providers' registry, it's moving on to the banks. According to a report from Spain's El País, the Banco de España is now on the lookout for additional information from financial organizations dealing with digital …

The central bank of Spain is introducing new registration guidelines for local virtual currency service providers, or VASPs, including banking institutions. The Bank of Spain has issued instructions on VASP registration for Anti-Money Laundering, or AML, purposes, requiring institutions to submit their registration requests through an electronic registry, Cointelegraph en Español reported Oct. 25. Issuing the guidelines on Oct. 19, the Spanish central bank noted that the obligation to sign up in the registry applies to “all individuals and institutions providing virtual currency exchange services” like cryptocurrency trading and custody services. The regulator stressed that VASPs will have to register …

The concept of decentralized digital money has raised significant curiosity among investors and individuals alike, as alternatives to conventional currencies have proposed benefits such as the ability to provide a safe haven against uncertainty in traditional markets. Unfortunately, before cryptocurrencies gain widespread adoption, investors need a method for simple transactions, one that can support the sudden rise of new cryptocurrency enthusiasts. Additionally, enterprise adoption has also been an obstacle for cryptocurrencies due to the current lack of infrastructure. To address these concerns, Bit2Me created a platform with the ultimate goal, “to become a frictionless gateway into the cryptocurrency world.” As …