Binance submitted an application to enter Spain

The cryptocurrency infrastructure provider Binance submitted an application to the Banco de España registry as a cryptocurrency service provider, an initiative with which it “formalizes its commitment to local regulators” and takes its first steps to disembark in the Iberian country.

Until now, Binance did not have a Spanish subsidiary. The creation of its own division in the region reflects the exchange’s interest in the Spanish market, in which it plans to carry out educational activities and promote local talent, as highlighted by the company in a statement.

“In Spain, several million people dedicate part of their time daily to blockchain technology and crypto assets. We celebrate that the Bank of Spain has recognized this social reality and has established a channel for users to be protected and for companies like Binance can provide their services with legal certainty and regulatory support,” said the head of Binance for Spain and Portugal, Alberto Ortiz.

Ortiz stressed that “having good regulations that protect consumers while fostering innovation is important for the growth of the industry.”

K. Tovar

Source: El País