Spain gives Ripio greenlight to offer crypto products

Blockworks
Blockworks

27 Jun 2023 10:00 PM

Crypto exchange Ripio has been approved to operate in Spain, a move that follows the approval of several competitors including Bitpanda....

  • Crypto exchange Ripio has been approved to operate in Spain, following Bit2Me and Bitpanda gaining regulatory approval.
  • Spain is positioning itself as a hub for digital asset companies after the Markets in Crypto Assets bill was passed in April.
  • To obtain a VASP license, companies must undergo several prerequisites, including a risk analysis and a manual for preventing money laundering and terrorist financing.
  • Ripio offers a suite of different products, including a trading platform, a crypto wallet, and a debit card that offers cashback in the form of USDC.
  • Over seventy firms are registered as virtual currency and e-wallet service providers through the Bank of Spain, including Binance.

The article has a positive sentiment as it highlights the growing number of crypto firms being approved to operate in Spain and the country's efforts to position itself as a hub for digital asset companies.

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You May Ask

What is the Markets in Crypto Assets bill and when was it passed?What are the prerequisites for obtaining a VASP license in Spain?What products does Ripio offer?How many firms are registered as virtual currency and e-wallet service providers through the Bank of Spain?Which other crypto firms have gained regulatory approval to operate in Spain besides Ripio?

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