AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Cryptocurrency giant Coinbase secures an Anti-Money Laundering registration from Spain's central bank, reinforcing its commitment to European expansion amidst Spain's growing affinity for digital currencies.
With this registration, Spanish users can now securely retain custody of their crypto assets on Coinbase. Additionally, they can conveniently buy and sell crypto assets using euros. The move comes as almost one-third of adults in Spain express a positive outlook on digital assets, with 29% believing that crypto is the future of finance.
Furthermore, crypto has emerged as Spain's second most preferred payment method, surpassing traditional bank transfers. The growing interest in digital currencies has prompted Coinbase to prioritize compliance and regulatory adherence in various countries.
Nana Murugesan, the vice president of international and business development at Coinbase, stated, "In the last year alone, we have obtained VASP registrations in Italy, Ireland, and the Netherlands, as well as in-principle approval and launching in Singapore, launching in Brazil, and, most recently, launching in Canada."
Coinbase's registration follows closely on the heels of crypto exchange Crypto.com, which also received regulatory approval from the Bank of Spain in June. The Bank of Spain has provided guidelines for crypto service providers to ensure compliance with anti-money laundering measures.
Coinbase's expansion efforts extend beyond Spain. The exchange has shown an interest in establishing a strong presence in Europe. In previous attempts to solidify its position, Coinbase made failed acquisition bids for FTX Europe, a defunct crypto exchange, in November 2022 and September 2023.
Meanwhile, the European Parliamentary Research Service (EPRS) has stressed the importance of non-European regulators implementing stricter oversight in the global crypto market. As the deadline for the Markets in Crypto-Assets Regulation (MiCA) Act approaches in December 2024, the EPRS emphasizes the necessity of a more robust regulatory framework in non-EU jurisdictions.
As Coinbase continues its expansion and commitment to regulatory compliance, the AML registration from the Bank of Spain marks a significant milestone, reinforcing the exchange's reputation as a trusted platform for crypto transactions.
Photo: Coinbase Newsroom
