Eternity Law International — News — Crypto License in Spain

Crypto License in Spain

Published:
September 10, 2022

Spanish Bank formed a register for organizations dealing with virtual currency exchanges for fiat, and creation of e-wallets. New legislative act says that crypto providers must be certified. Crypto license in Spain, which is also required for all firms wishing to operate in this sector, entitles them to spread above-mentioned services. A penalty for desire not to register and get crypto blockchain license in Spain can result in a fine of up to 10 million euros.

Legal field: Spain crypto regulation

If you’re intending to open a cryptocurrency company in Spain, you should be aware of some strict nuances. In 2021, Spain crypto regulation was passed regarding services for operations with cryptocurrencies in Spain directly, or when consumers of services are located outside of it. By a new Royal Decree, certain amendments were made to current regulative frame governing mechanisms and policies for combating illegal circulation of funds and terrorism financing.

Bill is first regulative basis in Spain containing regulative provisions for some aspects of interaction with crypto-currencies and functioning of VASP license in Spain. It’s done by considering virtual currency definition in 5th EU Directive, and via controlling of operating firms that participate in virtual currencies exchanges for fiat. In addition, those organizations spreading services for opening e-wallets follow these regulations.

Cryptocurrency exchange license in Spain cover virtual currencies exchanges for fiat; they are the sale and purchase of virtual currency for EUR or other real money, or e-money that’s quoted as payment tool in jurisdictions where they are released. Services with e-wallets involve issuing them, as well as storing and protecting customers’ cryptographic keys.

By Royal Decree, cryptocurrency operators were granted the status of firms being subject to mandatory regulation of AML provisions. Thus, according to Spain crypto regulation firms and individual entrepreneurs offering the above services within Spain, not considering location of their registration, nationality or juridical form, need to be approved.

Formation of such register is first stage in establishing mandatory regulative basis for new and functioning providers on market. Thus, these firms now follow the same points regarding illegal money trafficking policy as for credit facilities.

Crypto operators registration

In accordance with Spain crypto regulation, the main rules for registering a crypto operator company and getting crypto license in Spain were described on the portal of the Bank of Spain:

  • first businessmen need to open a cryptocurrency company in Spain;
  • submission of an application drawn up in accordance with the form issued by the Bank;
  • sending appropriate package of documents.

Consideration of application for cryptocurrency license in Spain lasts approximately 3 months. However, it’s approximate and may be extended if Bank has additional questions or needs to obtain any further documentation. If firms offering cryptocurrency exchanges services aren’t registered and doesn’t possess cryptocurrency license in Spain, they are committing serious offense.

Our lawyers assist you to open a cryptocurrency company and get a cryptocurrency exchange license Spain. We have extensive experience in this industry and are ready for any, even the most unpredictable situations. Contact us in any of the ways convenient for you – cooperation with us is an opportunity for you to quickly start your own business, bypassing all difficulties and without wasting resources.

Please contact us to get more information.

You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.

What is a cryptocurrency exchange in Spain?

Cryptocurrency exchanges are officially registered and verified platforms through which users can exchange cryptocurrencies among themselves and for fiat. Transactions within crypto exchanges are subject to local and European regulatory standards and rules adopted for the crypto space. The activities of crypto exchanges are permitted with a cryptocurrency exchange license Spain issued by the local regulator.

Is cryptocurrency regulated in Spain?

The Spanish agency SEPBLAC exercises strict and continuous control over the activities of cryptocurrency companies. The regulator issues an appropriate crypto license in Spain for all firms that work with crypto-assets. Firms working with crypto assets must also register in the register formed by the National Bank. In addition, crypto businesses must comply with the rules set out in European directives to prevent terrorist operations and illicit funds.

Which bank in Spain supports cryptocurrency?

The Spanish market has fully accepted and legalized payment transactions with cryptocurrencies. The most popular and crypto-friendly banks are Banco Sabadell, Banco BBVA and San Juan Mercantile Bank. Companies with a direct and serious intention to conduct activities related to crypto assets must get crypto blockchain license in Spain.

How is Spain using blockchain?

Cryptocurrencies in Spain are officially allowed to be used for personal and commercial payments and transactions. Cryptocurrency can be exchanged for other crypto-assets and for fiat, and also deposited in a bank as deposit savings. Activities with crypto assets are available to firms only if they have a crypto license in Spain.

spain crypto regulation
cryptocurrency exchange license spain

Businesses for sale

Crypto License in Estonia for sale

Europe, Estonia Crypto licenses for sale
Crypto License in Estonia is offered for sale  License since 2019 (crypto) Clean company Legal Help with the change of control Opened bank account with PI Asking price for Crypto License in Estonia: on a request. Details: nick.b@eternitylaw.com, Telegram @beihuln Please feel free to join our telegram channel in order to keep updated on the new...

Crypto license in Lithuania with Cyprus VASP License for sale

Europe, Lithuania Crypto licenses for sale
A new investment opportunity – Crypto license in Lithuania with Cyprus VASP License for sale. Please check out the details regarding this proposal below. Crypto company for sale: general provisions regarding the transaction Year of company registration – 2022; Status of the legal entity: Non-operational; Bank accounts: no bank account at the moment; Type of...

Bulgarian crypto license for sale

Europe, Bulgaria Crypto licenses for sale
The following is an opportunity to buy crypto license in Bulgaria. Please review the primary information regarding this deal. Crypto license in Bulgaria for sale: details of the transaction Registered Address: The purchase of the company includes a registered address for 12 months. Documentation: The proposal includes an apostilled and sworn translated set of documents...

You could be interested

Malaysia DAX - digital asset exchange in Malaysia

In recent years, the global monetary landscape has witnessed the rapid emergence and growth of crypto and digital investments. As these digital currencies gain mainstream acceptance, the demand for secure and reliable programs to trade and interchange them has surged. Malaysia, a vibrant Southeast Asian nation, has stepped into the digital asset arena with the...

What is a utility token?

Below, we will try to find out what is a utility token? It’s a specific kind of token helping in capitalization or financing of projects for new businesses, companies or groups of project creators. The UL token, which is called a service token, is used as a guarantee of taking part in large sales to...

Investments in Bulgaria

Bulgaria has long been appealing for its heritage for tourists and locals. However, a developing economy can also improve investor evolving in state. Investments in Bulgaria are quite a promising commercial direction, since this jurisdiction can offer many potential possibilities for realization of certain business plans, as well as a lot of privileges. For example,...

Overview of a regulatory and legal regime for blockchain in the EU

The EU executive, the Cοmmission, recognizes the significance of transparency of regulatory and legal regime for blockchain. Fields related to cryptocoins are getting more popular nowadays as the virtual currency market is now being regulated by the law. The EU demonstrates support for established regulative norms for blockchain regulation aiming to prevent legit and regulative...

International Civil Procedure Advocate

International civil law litigation must be accompanied by professional assistance provided by an international civil litigation lawyer working for a company with many years of experience and a positive reputation, Eternity Law International. Lawsuits involving residents of a country who are in civil or legal relations with foreign persons must be accompanied by legal support....

Company registration in Portugal

The Portuguese Republic is sited on territory of Iberian Peninsula. This state is in the tenth place in the rating of Europe regarding the procedure of “Companies Registration”. Portugal attracts a large number of entrepreneurs who are focused on doing commercial activities abroad. This happens for a number of the following reasons: low rates for...

Related posts

Spain Authorised Crypto Companies

Organizations striving to offer crypto currency services have to get a relevant permit for performing such operations. By being authorised, cryptocurrency companies in Spain confirm their dependability and reputation, allowing businessmen to operate lawfully within the country. Authorised crypto companies for sale in Spain can lawfully trade crypto and fiat, perform swapping, transferring, safeguarding, securing,...

AEMI License in Spain

Overview of AEMI Licensing in Spain An AEMI licence in Spain is increasingly sought after as tech-enabled solutions expand across Europe. This licence, granted by the Bank of Spain, allows organisations to issue e-money, offer payment facilities, and expedite secure transferring operations in obedience with EU  monetary legislations. Holding an AEMI licence in Spain enables...

SEMI license in Spain

Spain stands out as one of the most dynamic fintech ecosystems in Europe, with extensive experience in registering payment institutions and e-money institutions. The country provides tax breaks and other privileges, which makes it attractive to entrepreneurs compared to other jurisdictions. The Spanish market is developing rapidly in the payments sector, opening up significant opportunities....

PSP license in Spain

More businessmen are choosing Spain for establishing payment companies. This country has a very progressive FinTech environment. In accordance with official data, Spain is in the TOP-5 jurisdictions for issuing licenses for electronic money. It offers favorable taxation and management conditions, as well as a transparent licensing procedure with precise deadlines and compliance. Thus, a...

EMI license in Spain

In recent years, Spain’s financial realm has experienced a profound transformation, aligning itself with the global trend towards digitization and the rapid evolution of fintech solutions. This shift has not only altered the way both individuals and businesses engage in financial transactions and sales but has also underscored the need for robust regulatory measures to...

Company registration in Spain

Spain is one of those European countries with the highest level of development. The Spanish jurisdiction offers a well-structured fiscal system, transparent and understandable legislative framework and loyalty to foreign investors. Some forms of entrepreneurial activity in Spain enjoy tax privileges, which so attracts foreign capital owners. The current tax system in Spain is as...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank: