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Spanish regulator blacklists several crypto exchanges

Legal

www.chepicap.com 14 January 2019 19:02, UTC
  
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The Spanish CNMV, the National Securities Market Comission, has added on the 14th of January several cryptocurrency exchanges and related companies to its warning list.

Up to 14 new entries have been registered today on the list of unauthorized entities maintained by the Spanish CNMV. The list is composed by what the regulator dubs as financial “beach bars”, local jargon for a badly run business. Among those, there are some related to cryptocurrencies, while the majority appear to be related to forex and CFD trading.

The reason for the inclusion of the firms on this list differs from case to case, but the most common one is the lack of a license to operate on national territory.

Despite the setback against these rather unclear entities, the position of the Spanish administration appears to be shifting slowly towards greater aperture towards cryptocurrencies, as the agreement to promote blockchain adoption signed with 6 fellow EU members on early December showed.

Read more: Seven EU countries sign a declaration to promote blockchain adoptionDid a crypto company just buy Spanish football club Elche?


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