- The European Union advances in a law that will regulate cryptocurrency exchanges.
- The exchange houses, meanwhile, seek to have authorizations from each country to operate without problems.
- The adoption of bitcoin and other cryptocurrencies exceeds 15% in some countries.
Although the price has fallen in recent months, cryptocurrencies continue to growing in adoption.
A report of Statistical He says that despite the extremely volatile price and problems stemming from such fluctuations in the value of virtual currencies, investors are growing in their interest.
According to data from the Statista Global Consumer Survey, in countries like India, for example, 18 percent of respondents said they have bitcoin or an altcoin, such as Ethereum.
Compared to the survey conducted in 2019, the proportion has increased by 11 points.
Digital assets also grew in countries like South Korea, the US, Germany and Spain.
In the latter country, 14 percent of those surveyed said in 2021 they use or have some crypto such as Bitcoinb, compared to 10 percent in 2019.
In the Latin American countries analyzed by the survey, Brazil and Mexico, the percentages did not vary: 16 percent and 11 percent, respectively.
Binance: news
One of the brands that is capitalizing on this interest the most is Binance, the most important crypto exchange in the world by volume of transactions with cryptocurrencies such as Bitcoin.
One of the weak points of the business, not only of Binance but of the entire cryptocurrency ecosystem, is that of government regulations and authorizations.
In this sense, good news came this Friday, July 8, in Spain, where The Bank of Spain governed the local unit of Binance as a “virtual currency platform with established procedures against money laundering and the financing of terrorism”.
This registration with the Iberian Monetary Authority requires that registered providers must comply with the country’s regulations related to money laundering and the financing of terrorism.
This, although it may drop the deposits of some users who seek extreme opacity, will allow others who want to enter the crypto world in a more secure environment to enter the system.
The Bank of Spain clarified that it does not supervise the financial or operational risk of cryptocurrency platforms, and that being included in those registries does not imply approval of activities.
Binance and Bitcoin: landing in Europe as a strategy
Binance, which has around 120 million users in the world, published the news this Friday and said that it will allow it to offer the service of exchange and custody of crypto assets such as bitcoin natively.
Binance’s strategy is to gain a foothold in Europe. Spain joins France and Italy, where the exchange was also included in national registries.
It should be remembered that the EU is about to pass a law that will force crypto companies to have a license and guarantees for clients in order to issue and sell digital tokens in the region.
Globally, crypto assets are not regulated.
According to a report from ReutersBinance served as a conduit for the laundering of some $2.3 billion in illegitimate funds.
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