MADRID, 23 Oct. (EUROPA PRESS) -

The registry of cryptocurrency service providers of the Bank of Spain already has 41 companies since its creation, in October 2021, according to data compiled by Europa Press.

This registry includes providers dedicated to the exchange of fiduciary currencies for virtual ones and wallet custody, and in recent months the pace of incorporations has accelerated. If in June the number was 15, in the summer months and the first weeks of October it has already added 25 companies.

The latest to join has been Vent Finance, a company that facilitates crowdfunding for the launch of tokens and other projects related to the world of cryptocurrencies, blockchain and decentralized finance.

Passive cryptocurrency investment platform Depasify and Bitcoin exchange ATM network Kurant have also signed up, as well as Bodnerstand and Cryptaureus.

Most of them are based in Spain, with 12 in the province of Madrid, nine in Barcelona, ​​four in Valencia, one in Castellón, one in León, one in Girona, one in A Coruña, one in Alicante, one in the Balearic Islands. and one in Asturias. In addition, there are two companies registered from the Netherlands, two from Germany, two from Austria, one from the UK, one from Hungary and one from Estonia.

The Bank of Spain enabled this registry for cryptocurrency service providers in October 2021, following the second additional provision of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism.

On its website, the supervisor specifies that Law 10/2010 includes these providers as obligated subjects for its purposes and introduces an obligation to register with the Bank of Spain, as well as compliance with the demands and requirements set forth in the regulations of prevention of money laundering and financing of terrorism.

Registration in the registry is only conditional on the existence of adequate procedures and bodies for the prevention of money laundering and financing of terrorism, and compliance with the requirements of commercial and professional honorability.

However, it points out that this law "does not establish rules for financial supervision, prudential, corporate governance, technological security or market conduct or information transparency."

By way of example, the Bank of Spain points out that it "does not supervise" the financial or operational and security risks of these businesses nor does it have any competence in matters of conduct over these providers.

Thus, it emphasizes that the registration in this registry "does not imply any approval or verification of the activity carried out by the service providers of exchange of virtual currency for fiduciary currency and custody of electronic purses by the Bank of Spain".

Likewise, the Bank of Spain indicates that, once the registration application has been submitted, it has a period of three months to resolve the reception and register the company in the registry.