Binance’s subsidiary in Spain, Moon Tech gets a green signal from Central Bank of Spain!

Binance solidifies its number 1 position even more, as Spain gives its subsidiary green signal!

According to the reports, Binance happens to be the worlds largest cryptocurrency exchange. The company’s main spot and derivatives offers currently about $66.5 Billion in daily trading volume. The numbers are recorded, when the market is in a slump and is imploding as each day passes by. Amidst such a market crash, Binance was capable enough to bring in large trading volumes and also happens to be one of the very few companies to actually hire more people in the crypto turmoil when other companies are resorting to layoffs and account suspension.

Binance’s position as number one cryptocurrency got more solidified as Spain went on to give green signal for its subsidiary company Moon Tech by a Virtual Assets Provider registration by the Spanish Central Bank. In accordance with regulations against money laundering and against the funding of terrorism, the registration grants Binance authorization to provide cryptocurrency exchange and custody services in Spain.

Bank of Spain’s approval on Binance Registration!

The top cryptocurrency exchange revealed in a blog post on Friday that the Bank of Spain had approved Moon Tech Spain, S.L.’s application for registration as a Virtual Assets Services Provider. It follows Binance’s announcement that it recently achieved comparable successes in France and Italy as it seeks to expand its services throughout the continent. The registration satisfies anti-money laundering and counter-terrorist finance registration requirements and grants Binance authorization to provide crypto exchange and custody services in Spain.

Comments from CEO of Binance!

The founder and CEO of Binance Changpeng Zhao was elated to inform about the approval that Binance got from Spain. He also remarked that, regulation of crypto is the most effective way for an industry to grow in crypto and added that, his company has indefinitely invested in compliance and went on to introduce AMLD 5 and 6 complaint tools. The company also framed policies to ensure that the platform is trust worthy and remains the safest platform in the industry, said CZ.

In regards to Moon Tech’s registration, CZ was ecstatic to acknowledge that the hard work and commitment of the team and the vision of the company that prioritizes in providing a platform that places user protection above else is surely reaping the fruits.

As the approval got sanctioned, Binance also looks to hire more staff and increase the job circulation in crypto market. This will surely help to defy the common trend in the market which is observing many crypto firms slash their workforces amidst the current market avalanche.