Binance disables derivatives services in Spain, seeks regulatory approval: report

advertisement

Binance, one of the world’s biggest crypto exchanges, disabled its derivatives services in Spain while seeking regulatory approval from Comisión Nacional del Mercado de Valores (CNMV), the Crypto Times reported on Saturday.

The website of Binance in Spain removed its derivatives drop-down and local newspapers reported that the company had temporarily suspended derivatives offerings to comply with regulations and eligibility criteria set by the government agency.

Currently, Binance is on a gray list of CNMV, along with other crypto exchanges including Coinbase and Bit2Me. The gray list identifies organizations not allowed to operate as fully licensed entities.

Last week, Binance received a digital asset service provider license from the financial markets regulator in France, The Block reported.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

5 Steps to a Successful Crypto AML Program

As cryptocurrencies become increasingly mainstream, regulators, the media and policymakers are paying more attention to the financial crime risks associated with them. But what are the biggest compliance challenges crypto firms face, and what does a best practice AML program look like? 
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More