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Bitstamp gets license to operate in Spain

Published

1 year ago

17 November 2022

Exchange Bitstamp has obtained regulatory approval to operate cryptocurrencies and digital assets in Spain. The country’s central bank is the entity that granted the exchange a license.

The exchange house of European origin Bitstamp has begun to expand into other regions of the EU.obtain regulatory approval to trade digital assets in several EU countries. The latest regions where the exchange has obtained permission to trade cryptocurrencies are Italy and Spain, the latter being the most recent.

Spain’s central bank today granted Bitstamp a license to operate in the country.. As of today, the platform can offer Spanish users virtual currency and fiat currency exchange and custody services.. The approval in Italy and Spain joins the territories of Luxembourg and the Netherlands, where the exchange is already enabled.

Exchange houses operating in Europe have begun a path to regulation in different territories, motivated by the impending establishment of MiCA. Regulation of cryptocurrency markets (MiCA) in the European Union is a regulatory framework that will almost certainly be implemented in 2023. The framework requires exchange platforms to be regulated by both European and local regulations of the countries in which they operate.. Platforms such as Coinbase y Binance began this regulatory journey months ago because of its growing popularity in Europe.

EU lawmakers are preparing to vote on approving MiCA next February.. Within this framework there are several segments that do not seem to convince the cryptographic community in Europe. One of the most criticized points has been that of the limitation of daily operations conducted on stable activities in Europe. According to the new framework, only the following can be exchanged 200 million per day with currencies such as USDT, USDC, and many others. This point limits operations, making Europe a less attractive destination for launching a new project.