Binance disables derivatives services in Spain, seeks regulatory approval: report

Regulation • May 8, 2022, 3:57AM EDT

Binance, one of the world’s biggest crypto exchanges, disabled its derivatives services in Spain while seeking regulatory approval from Comisión Nacional del Mercado de Valores (CNMV), the Crypto Times reported on Saturday.

The website of Binance in Spain removed its derivatives drop-down and local newspapers reported that the company had temporarily suspended derivatives offerings to comply with regulations and eligibility criteria set by the government agency.

Currently, Binance is on a gray list of CNMV, along with other crypto exchanges including Coinbase and Bit2Me. The gray list identifies organizations not allowed to operate as fully licensed entities.

Last week, Binance received a digital asset service provider license from the financial markets regulator in France, The Block reported.

About Author

Mike Millard has worked as an editor for Bloomberg and Reuters, various newspapers and websites. He lived in Asia for more than two decades and now calls the Greek island of Corfu home. He is the author of three books.