MADRID, 17 Dic. (EUROPA PRESS) -
The Bank of Spain's registry of cryptocurrency service providers already has 89 companies since its creation just over two years ago, according to the latest update of the registry published by the supervisor this week.
In the last year, 36 companies have joined this registry, which includes providers dedicated to the exchange of fiat currencies for virtual ones and the custody of electronic wallets.
The latest incorporations that have been registered in November are those of Vat Technology
The majority of the companies registered during the last year declare that they are based in Spain, although there are also suppliers based in Cyprus, Italy, Malta, Austria, Lithuania, Estonia, Slovakia, Ireland and the Netherlands.
In October 2021, the Bank of Spain enabled this registry for cryptocurrency service providers, 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 suppliers 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 provided for in the regulations. 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 terrorist financing, and compliance with the requirements of commercial and professional honorability.
However, it points out that this law "does not establish standards for financial, prudential supervision, corporate governance, technological security, market conduct or information transparency."
As an 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 jurisdiction in matters of conduct over these suppliers.
Thus, it emphasizes that registration in this registry "does not imply any approval or verification of the activity carried out by providers of virtual currency exchange services for fiduciary currency and custody of electronic wallets 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.