The Spanish financial regulator has warned investors of more than 18 unlicensed entities

Spain's main financial regulator, the National Securities Market Commission (CNMV), has published a list of 18 companies operating in the country without proper licenses.

CNMV published the list on February 26, which includes several crypto companies such as Bitbinx, Crytomrge and CryptoMaxiTrade. According to the controller:

“These companies are not registered in the relevant Commission register, and therefore, they are not authorized to provide investment services or other activities under the control of the CNMV.”

The regulator admits that its powers are limited and advises concerned investors to go to ordinary courts of justice.

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In the year The number of crypto companies officially registered to operate in Spain by 2023 has grown by approximately 56 percent. According to the official registry published as an Excel document on the website of the Central Bank of Spain, 30 companies will be licensed as virtual asset service providers by 2023. Time, it includes 83 companies, including multinationals such as Binance, Bitpanda, Revolut and Crypto.com.

The CNMV and Spanish regulators have strengthened their policies towards the crypto industry in 2023. In October 2023, the Spanish Ministry of Economy and Digital Transformation announced the start of accelerated implementation of the European Union's first comprehensive crypto framework, the Regulation of Crypto-assets Markets.

In the year In November 2023, the CNMV opened the first case against technology provider Miolos for violating crypto promotion laws in the country. The company allegedly did not publish risk warnings or submit its campaigns to the CNMV for approval.

Spain continues to occupy a prominent position in Europe and ranks fourth in the number of cryptocurrency ATMs worldwide. The country has 310 operational machines, outpacing its neighbors such as Germany with 178 and France with just 16.

At the same time, the country's central bank is actively exploring the potential of a central bank digital currency. In January 2024, he chose his partners for the mass CBCC trial. Spain's CBCC program is unique in that it is officially declared independent of the Digital Euro project and, if implemented, would cover all economies in the Eurozone.

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