<a href="https://www.cryptoknowmics.com/news/bitstamp-observes-massive-crypto-interest-from-institutional-clients">Bitstamp</a>, a cryptocurrency exchange, <a href="https://twitter.com/Bitstamp/status/1593296633386647553" target="_blank" rel="nofollow noopener">claimed</a> to get a license to operate in Spain using <a href="https://www.cryptoknowmics.com/news/bitflex-cryptocurrency-exchange">cryptocurrencies</a>. It represents authorization for an exchange, which has been concentrating on the EU market since its establishment in 2011, in yet another European state. The Bank of Spain provided Bitstamp affiliate permission to provide digital wallet custody services.

https://twitter.com/Bitstamp/status/1593296633386647553
<h2>Bank of Spain Provides Virtual Wallet Custody Service to Bitstamp</h2>
On November 17, the business announced the acquisition of a Spanish license. The Bank of Spain has given Bitstamp's regional affiliate permission to provide Spanish customers with digital wallet custody services and services for exchanging virtual currency for fiat money. Following companies like <a href="https://www.cryptoknowmics.com/news/binance-okx-and-bybit-halt-usdt-and-usdc-deposits-on-solana">Binance</a> and <a href="https://www.cryptoknowmics.com/news/german-online-bank-n26-to-provide-crypto-via-bitpandas-trading-service">Bitpanda</a>, Bitstamp became the 46th distributor of <a href="https://www.cryptoknowmics.com/news/abra-global-announces-plans-for-u-s-bank-supporting-digital-assets">digital assets</a> to be granted a license in Spain.

With a strong adoption rate, Spain has lately shown that it can regulate cryptocurrencies with a reasonable approach. A set of guidelines for promoting <a href="https://www.cryptoknowmics.com/news/uk-government-amends-finance-regulatory-bill-to-add-new-crypto-rules">crypto-asset</a> investments were released in January by the local financial watchdog Comisión Nacional del Mercado de Valores (CNMV), which said that it must be transparent, balanced, and fair.
<h2>Bitstamp Increasing Compliance Effects</h2>
In recent years, Bitstamp has stepped up its ongoing effectiveness. The exchange supplied a formal list of examples of documentation explaining the fiat-related origins of the wealth of deposited funds, such as payslips for salaries and pensions, inheritance records, savings payslips, gifts, mining revenues, and others.

The Bank of Spain Issues Cryptocurrency License to Bitstamp

The Bank of Spain provided Bitstamp affiliate permission to provide digital wallet custody services. On November 17, the business announced the acquisition.

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The Bank of Spain Issues Cryptocurrency License to Bitstamp

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