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The Central Bank of Spain has registered 49 companies for the provision of cryptocurrency services (purchase, sale of cryptocurrency)
This week, 2 more companies were entered. In total, the Central Bank of Spain rejected 53 applications, due to non-compliance with the requirements for the prevention of money laundering established by the Spanish government.

In general, the application is considered by the Central Bank for about 3 months, from the submission of the application to the adoption of a decision. This is the amount of time needed for a detailed check by the Bank of Spain of a possible provider of cryptocurrency services.

Together with the government and the central bank of Spain, last year they made a statement from which a warning follows that cryptocurrencies are not suitable as an investment tool for the general mass of consumers, due to the risk of this product. That is why all applications from potential crypto service providers are carefully checked to prevent possible illegal situations.

Also after the bankruptcy of FTX, the governor of the Central Bank of Spain, Pablo Hernandez de Cos, said that this situation would serve as a good warning for making decisions on investing in cryptocurrencies.

We remind you that Paynote.eu has been licensed and is one of the 49 licensed companies in Spain described above to provide cryptocurrency services. Therefore, with us, you can safely engage in the exchange of cryptocurrencies.