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Seeking Alpha 2021-10-22 12:37:15

Spanish banks await central bank instruction to offer crypto services

In June, the Bank of Spain said it would provide instructions for regulated entities to register to enable crypto services for clients, but still hasn't received word from the central bank, Spanish newspaper El Pais reported on Tuesday. The registry, which aims to combat money laundering, is supposed to be operational by Oct. 29, though banks are still waiting for instructions. "It would not make sense for a bank to have to go through the requirements imposed, since these entities are already directly supervised, Gloria Hernandez Aler, a partner at finReg told El Pais. "However, it does make sense for them to notify that they are going to provide they type of service." El Pais notes that large financial institutions' compliance departments are trying to find out whether they have to be registered to offer crypto services. Speaking of crypto, bitcoin (BTC-USD) continues to stumble off its all-time high of $67.7K from

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Spanish banks await central bank instruction to offer crypto services

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