TechFlow reports that the Spanish National Securities Market Commission (CNMV) has released a list of 18 companies operating in the country without authorization, including several cryptocurrency firms such as BITBINX, Crytomerge, and CryptoMaxiTrade.
These companies are not registered with the CNMV and therefore are not authorized to provide investment services or other regulated activities. The regulator advises affected investors to seek assistance through ordinary courts.
As of 2023, the number of crypto companies officially registered to operate in Spain increased by 56%, bringing the total to 83 firms, including multinationals such as Binance, Bitpanda, Revolut, and Crypto.com.
Last year, the CNMV and Spanish authorities strengthened their regulatory approach toward the crypto industry. In October 2023, Spain's Ministry of Economy and Digital Transformation announced an accelerated rollout of the European Union’s first comprehensive crypto framework, the Markets in Crypto-Assets Regulation (MiCA).
