Bitstamp obtains a crypto license from the Bank of Spain

The EU-based exchange has become the 46th crypto firm to be licensed to offer virtual currency exchange services for fiat currency in the country. New

Crypto exchange Bitstamp has reported that it has obtained a license for operations with crypto in Spain. It marks the approval in another European jurisdiction of an exchange, which has focused on the EU market since its launch in 2011.

The company revealed the news of its Spanish license on November 17. The Bank of Spain approval allows the local Bitstamp subsidiary to offer virtual currency exchange services for fiat currency and e-wallet custody services to Spanish users. Bitstamp has become the 46th virtual asset provider to receive a license in Spain, after Binance and Bitpanda.

Spain has recently demonstrated a moderate approach to crypto regulation, which goes hand in hand with a high pace of adoption in the country. In January, local financial regulator Comisión Nacional del Mercado de Valores (CNMV) announced a set of rules for advertising investments in crypto-assets, requiring them to be "clear, balanced and fair".

Related: Head of European branch of Bitstamp becomes latest CEO of global crypto exchange

This fall, the country became the third-largest Bitcoin and cryptocurrency ATM network after the United States and Canada. It currently hosts 215 crypto ATMs, pushing El Salvador - with 212 - to the fourth position after overtaking the country by ATMs.

In September, the Madrid-based multinational telecommunications company, Telefonica, enabled payments with cr...