Coinbase Secures Registration With Bank of Spain – Details
- Dogecoin Enters Major Accumulation Zone, Is It Time To Get Back In? - May 2, 2024
- Oldest US Bank Invests In 2 Bitcoin ETFs, SEC Filing Shows - April 26, 2024
- Coin Center Opposes ‘Unconstitutional’ Stablecoin Bill – Details - April 21, 2024
Prominent digital asset exchange Coinbase has registered with the Bank of Spain as an authorized cryptocurrency exchange and custodian wallet provider. This development comes as the American crypto trading platform continues to actively expand its footprint outside of the United States.
Coinbase Enters The Spanish Market
According to a blog post on September 22, Coinbase explains that its expansion into the Spanish market is part of Phase II of its international expansion strategy titled “Go Broad, Go Deep.”In particular, Coinbase secured an anti-money laundering (AML) license with the Spanish apex bank.
Under this registration, the American exchange can now serve as a crypto asset custodian to all Spanish citizens as well as a trading platform for cryptocurrencies with Spain’s legal tender or other crypto assets.
Spain, which is a member nation of the European Union, will be expected to adopt the MiCA regulations when it goes live in 2024. This appears to be one of the factors behind Coinbase’s foray into the nation’s crypto market.
Based on the exchange’s announcement, the MiCA regulatory framework provides much-needed clarity for cryptocurrency operations in the European Union, recognizing the vast potential of these digital assets
Spain can also be regarded as a growing crypto hub, with 29% of Spanish adults backing cryptocurrency to be the future of finance. According to a report by Bitnovo, there is a also high adoption level of digital assets in the Southern European nation, with cryptocurrencies now ranked as its second most popular payment method ahead of bank transfers.
Coinbase Global Expansion Continues Amid US Legal Battle
Commenting on Coinbase’s recent venture into Spain, the exchange’s Vice President of International and Business Development, Nana Murugesan, also commended the global upscaling in crypto regulations, which has conveniently allowed the crypto exchange to set up bases in several countries outside the US.
Aside from Spain, America’s largest exchange has acquired VASP licenses in Italy, Ireland, and the Netherlands while also obtaining an in-principle approval in Singapore. In addition, Coinbase will soon be launching in Brazil and Canada.
Recently, Fortune also reported that Coinbase has tried twice to acquire the European branch of bankrupt crypto exchange FTX, with the most recent attempt being in September 2023. However, the US-based exchange has abandoned these plans as FTX Europe has also been involved in the ongoing bankruptcy proceedings.
In other news, Coinbase remains in an embroiled legal battle with the US Securities and Exchange Commission (SEC). Back in June, the securities watchdog filed a lawsuit against the crypto exchange, accusing it of “operating an unregistered securities exchange, broken and clearing agency.”
In 2021 TradeHost traded 7,937 Betfair UK, IE, US & AU horse racing and greyhound markets.
2022 saw TradeHost become even more profitable with 22,698 Betfair markets traded.
2023 less markets were traded – 17,459 – but a with a similar profit to 2022.
All trades and bets were streamed live on JuiceStorm TV which was was watched by 124,209 traders in 2022.
All results for the 48,094 Betfair markets traded are here and the charts are here.
Top 100 Comments on JuiceStorm.com
Successful Betfair Traders have the simplest Betfair Trading systems. The difference is their selection process, experience and execution level. Get that difference for yourself with automated trading by TradeHost.
