Secures License in Spain After Closing U.S. Institutional Service

The exchange shut down its U.S. institutional business just a few weeks ago. Lion Walking around Saville, Spain.
Created by Kornelija Poderskytė from DailyCoin
  • has obtained a crypto license from the Bank of Spain.
  • The exchange will be able to offer its products and services in Spain.
  • has recently acquired a few other crypto licenses.

The exchange has had a rough year. After the FTX fiasco, rumors plagued the exchange that it was also insolvent, crashing its CRO token to unseen lows.

On top of that, recently shut down its institutional business in the U.S. However, it’s not all bad for The exchange has just obtained a regulatory license in Spain.’s Journey to Iberia, one of the most popular centralized crypto exchanges, will expand to Spain. On Friday, the exchange announced it had obtained a crypto license in the country.

The Virtual Asset Service Provider (VASP) registration that has secured from the Bank of Spain will allow the exchange to offer a suite of its products and services to users in Spain. revealed that it had to thoroughly review its compliance with Anti-Money Laundering Directive (AMLD) and other financial crimes laws to safeguard users.

Kris Marszalek, CEO of, said that receiving the VASP registration in Spain is the “latest testament to our commitment to compliance and eagerness to work with regulators” to advance crypto and blockchain technology.

“We look forward to continuing to work with the Bank of Spain as we launch our products and services in-market and providing users with the comprehensive, safe and secure crypto experience that they desire.”’s obtaining the regulatory license in Spain comes a few weeks after the exchange received a similar license in Singapore. already has various licenses in France, the UAE, Cyprus, and elsewhere.

However, shut down its institutional business in the U.S. just a few weeks ago, citing “limited demand” in the “current market landscape.”

On the Flipside

Why This Matters

Centralized crypto exchanges acquiring licenses in Europe and elsewhere says a lot about the current environment for crypto in the U.S. 

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Arturas Skur

Arturas Skur is a cryptocurrency news reporter at DailyCoin who covers Web 3.0 domains, DeFi, and Ethereum Layer-2s. With over five years of experience in journalism and public relations, Arturas brings his critical thinking and analytical abilities to deliver insightful news stories. In his free time, he enjoys hiking, playing with his dog, and reading.