BINANCE GETS VASP REGISTRATION FOR ITS SPANISH SUBSIDIARY FROM THE BANK OF SPAIN

Last updated: June 19, 2025, 20:44 | Written by: Chris Larsen

In a significant move signaling growing regulatory acceptance of cryptocurrency, Binance, the world's largest crypto exchange by trading volume, has announced that its Spanish subsidiary, Moon Tech Spain, S.L., has been officially registered as a Virtual Asset Service Provider (VASP) by the Bank of Spain. Crypto exchange Binance's Spanish subsidiary, Moon Tech Spain, has been granted registration as a virtual asset services provider (VASP) by the country's central bank. BTC $ 109,673.16This pivotal registration, granted on July 7th after an application submitted on January 28th, allows Binance to offer comprehensive crypto asset exchange and custody services within Spain, fully compliant with the central bank's stringent anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. Global cryptocurrency exchange Binance announced that the Bank of Spain granted its Spanish subsidiary, Moon Tech Spain, S.L, a Virtual Asset Services Provider (VASP) registration last J, after applying last January 28 of the same year.This milestone follows Binance's recent expansions into France and Italy, demonstrating its commitment to navigating the complex global regulatory landscape and providing users with secure and compliant access to the digital asset ecosystem. Crypto exchange Binance is now registered as a virtual asset service provider (VASP) by the Bank of Spain, allowing the exchange to offer custody and crypto exchange services in the country. In an announcement on Friday, Binance said that its Spanish subsidiary, Moon Tech Spain, was registered as a VASP by Spain s central bank on Thursday.The registration marks a crucial step in Binance's broader strategy for long-term growth and mainstream adoption of crypto within Europe and worldwide.

This achievement is not just a win for Binance but a positive signal for the entire cryptocurrency industry, highlighting the increasing willingness of regulatory bodies to engage with and regulate crypto businesses.The Bank of Spain's decision to register Moon Tech Spain as a VASP is a testament to Binance's commitment to adhering to the highest standards of compliance, offering users greater confidence in the security and legitimacy of its platform. Binance said in an announcement on Friday that its Spanish subsidiary, called Moon Tech Spain, was registered as a VASP by the national central bank in Spain on July 7. It applied for registration in January.What does this registration mean for users in Spain and the wider crypto community? Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volumeLet's delve deeper into the details and explore the implications of this significant regulatory approval.

What Does Binance's VASP Registration Mean for Spain?

The VASP registration granted to Moon Tech Spain unlocks a range of possibilities for both Binance and the Spanish crypto market. Binance Gets Operating License From the Bank of Spain Binance, the cryptocurrency exchange, has received the certification of the Bank of Spain to operate as a Virtual Asset Service Provider (VASP) in the country. This means that the authorities have found that Binance, through its Spanish subsidiary Moon Tech Spain, S.L, complies with all ofThe most immediate impact is the ability for Binance to legally offer its full suite of services to Spanish residents, including:

Crypto Asset Exchange: Allowing users to buy, sell, and trade a wide variety of cryptocurrencies.
Custody Services: Securely storing and managing users' digital assets on their behalf.

Beyond the immediate services, the registration has broader implications:

Enhanced User Confidence: Being registered as a VASP instills greater trust and confidence in Binance's platform for Spanish users.
Compliance with AML/CTF Regulations: Binance is now officially recognized as adhering to Spain's stringent anti-money laundering and counter-terrorist financing rules. We are thrilled to announce that our Spanish subsidiary, Moon Tech Spain, S.L, has been granted registration as a Virtual Asset Services Provider (VASP) by the Bank of Spain.This is crucial for combating financial crime and ensuring the integrity of the crypto ecosystem.
Mainstream Adoption: Regulatory clarity can encourage more mainstream adoption of cryptocurrencies in Spain as individuals and institutions become more comfortable with the regulated environment.
Economic Growth: The presence of a major crypto exchange like Binance can stimulate economic activity in Spain, attracting investment and creating jobs in the blockchain and fintech sectors.

The Significance of VASP Registration in the Crypto World

A Virtual Asset Service Provider (VASP) registration is a crucial regulatory requirement for crypto businesses operating in many jurisdictions around the world. We are thrilled to announce that our Spanish subsidiary, Moon Tech Spain, S.L, has been granted registration as a Virtual Asset Services Provider(VASP) by the Bank of Spain.It signifies that the company has met certain standards and criteria set by regulatory authorities, primarily related to anti-money laundering (AML) and counter-terrorist financing (CTF). The registration enables Binance Spain, S.L. to provide crypto asset exchange and custody services. Poland. Binance Poland Sp łka z Ograniczoną Odpowiedzialnością has been granted Virtual Asset Service Provider (VASP) registration by the Polish Tax Administration Chamber of Poland in Katowice (registration number RDWW 465). TheWithout this registration, offering crypto services in a given country is often illegal.

Why is VASP registration so important?

Legitimacy and Trust: VASP registration provides legitimacy to crypto businesses, signaling to users and the broader public that they are operating within a regulated framework. Binance, the world s biggest crypto exchange, has recently announced that the Bank of Spain has successfully registered its subsidiary, dubbed Moon Tech Spain, as a Virtual Asset Services Provider (VASP), following the firm's recent arrival in France and Italy.This increases trust and encourages participation in the crypto market.
Combating Financial Crime: VASP regulations require companies to implement robust AML/CTF measures, helping to prevent the use of crypto for illicit activities such as money laundering and terrorist financing.
Protecting Consumers: While VASP registration primarily focuses on AML/CTF, it also indirectly protects consumers by ensuring that crypto businesses adhere to certain operational standards and are subject to regulatory oversight.
Facilitating Growth and Innovation: Regulatory clarity, provided by VASP registration, can foster a more stable and predictable environment for crypto businesses, encouraging innovation and investment in the sector.

Examples of VASP Requirements

VASP requirements can vary from country to country, but they typically include:

Customer Due Diligence (CDD): Implementing Know Your Customer (KYC) procedures to verify the identity of customers.
Transaction Monitoring: Monitoring transactions for suspicious activity and reporting any concerns to the relevant authorities.
Record Keeping: Maintaining detailed records of transactions and customer information.
Compliance Officer: Appointing a compliance officer responsible for overseeing the company's AML/CTF program.

Binance's Expansion Strategy and Regulatory Compliance

Binance's successful VASP registration in Spain is part of a broader strategy of expanding its global footprint while simultaneously embracing regulatory compliance. The Bank of Spain recently registered Binance s Spanish subsidiary Moon Tech Spain, S.L. as a VASP. Binance will be able to comply with Spain s AML/CTF rules after completing this registrationIn recent months, Binance has made significant strides in obtaining regulatory approvals in several key markets.

Italy: Prior to Spain, Binance secured regulatory approval from Italian authorities, allowing it to operate as a crypto services provider in Italy.
France: Binance has also received regulatory approval in France, another major European market.
Poland: Binance Poland has also been granted VASP registration by the Polish Tax Administration Chamber.

These regulatory wins demonstrate Binance's commitment to working with regulators around the world to create a safe and compliant crypto ecosystem.Changpeng Zhao (CZ), CEO of Binance, has repeatedly emphasized the importance of regulatory compliance for the broader adoption of crypto. ""Compliance is crucial to the broader adoption of crypto,"" CZ stated.This statement underlines Binance's proactive approach to navigating the evolving regulatory landscape and building trust with regulators and users alike.

Binance's commitment to compliance extends beyond simply obtaining licenses and registrations. Binance gets VASP registration for its Spanish subsidiary from the Bank of Spain. Changpeng Zhao, CEO of Binance, said that compliance with regulation is crucial to the broader adoption of crypto.The company has also invested heavily in developing advanced AML/CTF technologies and processes.This includes using sophisticated analytics tools to detect suspicious transactions, implementing robust KYC procedures, and working closely with law enforcement agencies to combat financial crime.

Why is Regulatory Compliance Important for Binance?

There are several key reasons why regulatory compliance is so important for Binance:

Maintaining Market Access: Without regulatory approvals, Binance would be unable to operate in many key markets around the world.
Building Trust with Users: Regulatory compliance enhances trust and confidence in Binance's platform, attracting more users and increasing trading volume.
Attracting Institutional Investors: Institutional investors are often hesitant to invest in crypto assets if they are not traded on regulated exchanges.Regulatory compliance helps Binance attract institutional capital.
Ensuring Long-Term Sustainability: By working with regulators to create a clear and consistent regulatory framework, Binance can help ensure the long-term sustainability of the crypto industry.

Moon Tech Spain: Binance's Spanish Subsidiary

Moon Tech Spain, S.L. is the Spanish subsidiary of Binance that was granted the VASP registration by the Bank of Spain.This subsidiary serves as the legal entity through which Binance operates its business in Spain. We are thrilled to announce that our Spanish subsidiary, Moon Tech Spain, S.L, has been granted registration as a Virtual Asset Services Provider(VASP) by the Bank of Spain. Buy Crypto Buy SellBy establishing a local subsidiary, Binance demonstrates its long-term commitment to the Spanish market and its willingness to comply with local regulations.

The choice to operate through a local subsidiary also provides several benefits:

Local Expertise: A local subsidiary can better understand the nuances of the Spanish market and tailor its services to meet the specific needs of Spanish users.
Closer Relationships with Regulators: Having a local presence allows Binance to build closer relationships with the Bank of Spain and other regulatory authorities.
Greater Accountability: A local subsidiary is subject to Spanish laws and regulations, providing greater accountability and transparency.

The successful registration of Moon Tech Spain as a VASP highlights the effectiveness of Binance's strategy of establishing local subsidiaries in key markets and working closely with local regulators.

The Bank of Spain and Crypto Regulation

The Bank of Spain is the national central bank of Spain.As such, it plays a crucial role in regulating the financial system, including the cryptocurrency sector. Binance, one of the largest crypto exchanges worldwide, has secured a license from the Bank of Spain that will let the exchange operate in compliance with the local laws. This certification means that the exchange is currently complying with its AML/KYC processes required by the government of the country. More than 17 companies have received this certification by now. Binance Gets OperatingThe Bank of Spain is responsible for overseeing the activities of VASPs operating in Spain and ensuring that they comply with AML/CTF regulations.

The Bank of Spain's approach to crypto regulation is generally considered to be pragmatic and forward-looking.While the bank is committed to protecting consumers and preventing financial crime, it also recognizes the potential benefits of blockchain technology and is open to innovation.This is evidenced by its decision to grant VASP registration to Binance's subsidiary, Moon Tech Spain.

What are the Bank of Spain's Objectives in Regulating Crypto?

The Bank of Spain's objectives in regulating crypto include:

Protecting Consumers: Ensuring that consumers are aware of the risks associated with investing in crypto assets and that they are protected from fraud and scams.
Preventing Financial Crime: Combating money laundering, terrorist financing, and other illicit activities involving crypto assets.
Maintaining Financial Stability: Monitoring the potential impact of crypto assets on the stability of the financial system.
Promoting Innovation: Encouraging innovation in the blockchain and fintech sectors while mitigating the risks associated with new technologies.

The Bank of Spain's regulatory framework for crypto is constantly evolving as the technology and the market continue to develop.The bank regularly updates its guidance and regulations to address new challenges and opportunities.

Impact on the Spanish Crypto Market and Beyond

Binance's VASP registration in Spain is expected to have a significant impact on the Spanish crypto market and could even influence regulatory approaches in other countries.

Positive Impacts on the Spanish Crypto Market

Increased Liquidity: Binance's presence in Spain will likely lead to increased liquidity in the Spanish crypto market, making it easier for users to buy and sell crypto assets.
Greater Competition: Binance's entry into the Spanish market will increase competition among crypto exchanges, which could lead to lower fees and better services for consumers.
Increased Adoption: The greater availability of crypto services in Spain, coupled with increased regulatory clarity, could lead to increased adoption of crypto assets among Spanish residents.
Job Creation: Binance's operations in Spain will create new jobs in the blockchain and fintech sectors.

Potential Influence on Other Countries

Binance's successful navigation of the Spanish regulatory landscape could serve as a model for other crypto exchanges seeking to obtain regulatory approvals in other countries. Changpeng Zhao, CEO of Binance, said that compliance with regulation is crucial to the broader adoption of crypto. Crypto exchange Binance is now registered as a virtual asset service provider (VASP) by the Bank of Spain, allowing the exchange to offer custody and crypto exchange services in the country. In an announcement on Friday, Binance said that its Spanish subsidiary, Moon Tech SpainThe fact that a major crypto exchange like Binance has been able to meet the stringent requirements of the Bank of Spain could encourage other regulators to adopt a similar approach.

Furthermore, the success of Binance's operations in Spain could demonstrate the potential benefits of regulating crypto assets, which could further encourage regulators in other countries to embrace a more proactive approach to crypto regulation.

Common Questions About Binance's VASP Registration in Spain

Here are some frequently asked questions about Binance's VASP registration in Spain:

Q: What is a Virtual Asset Service Provider (VASP)?

A: A Virtual Asset Service Provider (VASP) is a business that provides services related to virtual assets, such as cryptocurrencies.These services can include exchange between virtual assets and fiat currencies, custody of virtual assets, and transfer of virtual assets.

Q: Why is VASP registration important?

A: VASP registration is important because it ensures that crypto businesses comply with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. Binance announces that its Spanish subsidiary, Moon Tech Spain, S.L, has been granted registration as a Virtual Asset Services Provider (VASP) by the Bank of Spain. This registration will allow Binance to offer crypto asset exchange and custody services in Spain in compliance with the requirements of its central bank s anti-money launderingIt also provides legitimacy to crypto businesses and protects consumers.

Q: What services can Binance offer in Spain now that it has VASP registration?

A: With VASP registration, Binance can offer crypto asset exchange and custody services in Spain, fully compliant with the Bank of Spain's regulations.

Q: How will this registration affect Spanish users of Binance?

A: The registration will enhance user confidence in Binance's platform, as it demonstrates compliance with Spanish regulations. Binance began its VASP registration on January 28. Now, following yesterday s approval, the crypto exchange can offer its services across Spain in full compliance with the central bank s anti-money laundering (AML) and counter-terrorist funding (CTF) rules.It will also ensure that Spanish users have access to a wider range of crypto services in a regulated environment.

Q: Is Binance regulated in other countries as well?

A: Yes, Binance has obtained regulatory approvals in several other countries, including Italy, France, and Poland, demonstrating its commitment to regulatory compliance globally.

Q: How does Binance ensure compliance with AML/CTF regulations?

A: Binance has invested heavily in developing advanced AML/CTF technologies and processes, including KYC procedures, transaction monitoring, and cooperation with law enforcement agencies.

Conclusion: A Step Forward for Crypto Adoption in Spain

Binance securing VASP registration for its Spanish subsidiary, Moon Tech Spain, S.L., from the Bank of Spain marks a significant turning point for the cryptocurrency landscape in Spain. Crypto exchange giant Binance's Spanish subsidiary, Moon Tech Spain, has clinched registration as a Virtual Asset Services Provider (VASP) from the Bank of Spain, the business announced on Friday.This achievement underscores the growing acceptance and integration of digital assets within traditional financial frameworks. Almost six weeks after Binance obtained regulatory approval from Italian authorities, the crypto services provider announced today that it has secured the Virtual Asset Services Provider (VASP) registration from the Bank of Spain.By adhering to the stringent AML/CTF regulations set forth by the Bank of Spain, Binance not only solidifies its commitment to compliance but also paves the way for increased trust and adoption of crypto among Spanish users.

Key takeaways from this development include:

Binance can now legally offer its full suite of crypto services in Spain, including exchange and custody services.
The registration enhances user confidence and fosters mainstream adoption of cryptocurrencies in Spain.
Binance's global expansion strategy prioritizes regulatory compliance.
The Bank of Spain is taking a pragmatic approach to crypto regulation.

As Binance continues to navigate the global regulatory landscape and expand its reach, this VASP registration in Spain serves as a testament to the company's dedication to building a secure, compliant, and accessible crypto ecosystem.This milestone not only benefits Binance and its Spanish users but also sets a positive precedent for the broader cryptocurrency industry, potentially influencing regulatory approaches in other countries and ultimately driving the wider adoption of digital assets worldwide. Crypto exchange Binance is now registered as a virtual asset service provider (VASP) by the Bank of Spain, allowing the exchange to offer custody and crypto exchange services in theThe future of crypto in Spain looks brighter than ever, thanks to this collaborative step towards a regulated and thriving digital economy.