Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: RSRS on August 29, 2021, 06:42:04 AM
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The Spanish central bank will roll out its new registration process for crypto exchanges operating in the nation by October.
Exchanges have been in limbo since April this year, when parliament passed a new law aimed at tackling the spread of money laundering and terrorist financing. The law states that the central Bank of Spain must create a central registry for crypto exchanges operating in Spain, and issue operating permits.
A similar system already exists in nations such as Japan and Singapore, but the bank had been given six months to formulate its protocols.
The media outlet El Pais reported that the bank now “expects” to publish details of the instructions and forms required on its website in “September or October.” The provisions will also apply to Spanish crypto wallet and custody-related firms.
Exchanges and other crypto firms will then be given until January 22 next year to complete the application process. After this point, the bank will become the official supervisory body for crypto exchanges and wallet providers.
More Information (https://cryptonews.net/en/news/market/1578887/)