Spanish banks are preparing for the possibility of offering crypto assets directly to their customers. According to new regulations, the Bank of Spain must formulate a list of virtual asset service providers and custody companies. However, these institutions are still not sure if they must apply, because banks already comply with anti-money laundering directives derived from other laws.
Spanish Banks Jump to Comply With Crypto Laws
Spanish banks are interested in offering cryptocurrency services to their customers and will be making arrangements to comply with upcoming regulations. Spanish banks are already on track to register for the list of virtual asset service providers and custody organizations that must be compiled by the Bank of Spain before October 29.
The Bank of Spain announced it would release the paperwork and instructions for interested parties in the upcoming registry, but failed to do so. This has made banks uncertain whether they need to register again under applica
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