Binance's Allure Grows With Bank of Spain Accepting The Crypto Exchange
— Crypto, Grows, Allure, Laundering, Union, Exchange, Binance, Spain, Accepting, Binances — 1 min read
Bank of Spain has registered the local unit of the world's largest crypto exchange Binance as a virtual currency platform with procedures in place against money laundering and terrorism financing. The registration signals that Binance is gaining momentum in Europe after France and Italy included it in its national registries in recent months as the European Union prepares new regulation on the sector. Binance, which has about 120 million users worldwide, tweeted on Friday that its registry in Spain will allow it to offer crypto asset exchange and custody in the country in compliance with the central bank's rules. A recent Reuters investigation into money laundering on the platform found Binance served as a conduit for the laundering of at least $2.35 billion in illicit funds in a Reuters report. The Reuters report found Source