The CNMV has targeted the ‘crypto’ titan Binance again. The stock market regulator recently ordered a binance platform, a world leader in cryptocurrency trading, to stop crypto derivatives in Spain.
The CNMV has banned Binance from providing trading bitcoin derivatives in Spain. The world leader in bitcoin trading has removed some financial instruments from its website and must cease present operations.
Binance deleted the derivatives offer from its website swiftly to comply with the CNMV mandate. The crypto behemoth is still waiting for the Bank of Spain’s (BdE) guarantee certificate, which it requested in January.
“We hope that by adhering to the Bank of Spain registration, other enterprises will follow suit,” Alberto Ortiz, Binance’s head of operations in Spain,
The CNMV may order Binance to cease trading in crypto asset derivatives held by its customers.
Buenaventura’s body wants to stop operations using “crypto” derivatives, which have worried stock market regulators.
Everything points to Binance wanting to comply with CNMV regulations, allowing the BdE to approve. The firm has repeatedly maintained its ambition to obtain the banking authority’s seal.