The Spanish Financial Regulator has asked Binance to cease trading crypto derivatives in Spain. CNMV may forcibly suspend transactions related to crypto derivatives. Binance is still awaiting the issuance of a license to operate as an official cryptocurrency trading company in Spain. Spain's National Securities Market Commission does not consider crypto derivatives safe for investors.
Binance Will Stop Its Services
Authorities believe that cryptocurrencies increase the likelihood of investors being harmed. Mixing traditional banks with crypto assets could put the economic system at risk, according to a joint statement from the Bank of Spain and the CNMV.