Oubita, the cryptocurrency service platform, announced through a press release that it is officially registered with the Bank of Spain as a provider of virtual currency exchange services for fiat currencies and custody of electronic wallets.
According to the statement, For Oubita, registration in the Bank of Spain’s registry means “consolidation of its reputation” and a sign of its “firm commitment” to complying with current legislation.
In context, according to reviewed Forbes Spain, the platform has a volume of operations of eight million euros, On the other hand, it is worth mentioning that this announcement was made after the launch of Oubita Card last year, and the cryptocurrency payment gateway, Oubita Pay.
In this way, with the registration of Oubita in the registry of the Bank of Spain, the entity would already have a total of 70 entities that offer cryptocurrency exchange services and custody of them. Likewise, it should be noted that registration is only conditional on the existence of adequate procedures and bodies for the prevention of money laundering, financing of terrorism, and compliance with the requirements of commercial and professional repute.
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Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.