Just-In: Crypto.Com Expands In Europe While Binance Faces Hurdles

Ashish Kumar
June 23, 2023 Updated September 4, 2025
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Crypto.com Applies For Hong Kong License Amid Tighter Regulatory Crackdown

Crypto News: Crypto.Com, a leading crypto exchange on Friday announced receiving registration clarity in Spain. As per the release, the Bank of Spain granted the crypto exchange with Virtual Asset Service Provider (VASP) license. However, this development comes in when the biggest crypto exchange by trading volume, Binance is facing compliance hurdles in Europe.

Also Read: Ripple Highlights CBDC Adoption; XRP Price Drops 3%

Advertisement
Advertisement

Crypto.Com Makes Major Move In Europe

In order to gain a VASP permit in Spain, Crypto.com went under review for compliance with Anti-Money laundering rules, AMLD, and other finance linked directives. The crypto exchange will now be able to provide its suite of products and services to Spain’s digital asset users.

Kris Marszalek, CEO of Crypto.com stated that receiving the Virtual Asset Service Provider permit in Spain shows their commitment towards compliance in working with global regulators.

Meanwhile, Crypto.com received a backlash over allegedly deploying internal teams to trade tokens for profit making. This has led to major concerns in the crypto industry. The report mentioned that the crypto exchange’s executives asked their team to say that there is no such internal market marker type operation running. Read More Crypto News Here…

Advertisement
Advertisement

Binance Losing Ground In Europe?

Binance is facing registration complications in Europe. The biggest crypto exchange announced its exit from the Netherlands after failing to gain a VASP license from the Dutch regulator. It recently decided to deregister from Cyprus as a crypto asset service provider.

Binance holds anti-money laundering compliance in Spain, France, Italy, Spain, Sweden, Lithuania and Poland. However, the biggest crypto exchange and its US affiliate are facing legal troubles from the Securities and Exchange Commission (SEC) over its operations.

Coingape reported that Binance might be facing internal FUD as its key executives are allegedly taking an exit from European operations amid expansion plans.

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.