Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Cryptocurrency

The National Securities Market Commission in Spain has issued warnings on 12 entities for not being registered for investment services.

Spanish officials issue warning on Huobi and Bybit crypto exchanges

Regulators around the world continue to keep the pressure fresh on crypto businesses. Spain’s National Securities Market Commission (CNMV) is the latest to issue a warning on several crypto- and financial market-related businesses for unregistered services.

According to the official document, CNMV has issued warnings on 12 entities on Monday for not being registered in the corresponding registry of the commission. The listed entities, which include major crypto trading platforms such as Huobi and Bybit, are unauthorized to provide investment services within Spain.

The CNMV’s consulting page states that only registered companies have the authorization to provide services related to securities. While the securities watchdog does not have the authority to directly ban an entity from operating in the country, the CNMV can appeal to the courts. A November report from Crypto Company Guide in Spain revealed about 120 crypto companies are already registered and operating in Spain.

Spain established a rather friendly environment for crypto firms last year. As Cointelegraph en Español summarized, the Committee on Economic Affairs and Digital Transformation approved a law to create a sandbox for financial technologies.

Speaking to Cointelegraph, University of Seville Professor Ismael Santiago said that the sandbox would favor “the creation of new value-added jobs, technological development and economic competitiveness.”

More recently, the Spanish Socialist Workers’ Party introduced a non-law proposition to launch a national digital currency in a response to the European Central Bank’s experiments with the digital euro.

The proposal states that a national digital currency would enable higher liquidity if a monetary expansion is necessary. It allows a more direct mechanism by injecting liquidity directly into current accounts and thus transferring it immediately and without intermediaries.

cointelegraph

Featured

NFT

Non-fungible token (NFT) sales in November rose for the first time in seven months to top US$530 million, shrugging off the sharp declines in...

Ethereum

Ethereum spiked above the $1,300 resistance zone against the US Dollar. ETH is correcting gains, but it remains supported near $1,250 and $1,230. Ethereum...

Altcoin

Huobi Token (HT), a cryptocurrency trading exchange asset with an overall valuation of $868 million, recorded a significant uptick in its price after an...

Tron

TRON (TRX) took a heavy hit during the first half of November following unfortunate events such as the implosion of FTX, an exchange that...