Binance's Moon Tech subsidiary granted registration in Spain

Moon Tech Spain, the Spanish subsidiary of cryptocurrency exchange Binance, has secured registration as a virtual asset services provider ("VASP") by the nation's central bank, according to a blog post released Friday.Moon Tech was registered as a VASP on July 7 after applying for registration on January 28.The registration will enable Binance to offer its crypto exchange and custody services in Spain in compliance with the Bank of Spain's anti-money laundering and counter-terrorist financing rules, the blog read.Despite a broad downturn in the crypto market, Binance continues to expand its global footprint while remaining compliant with regulations. The exchange in May was granted regulatory approval to custody digital assets in France.“Effective regulation is essential for the widespread adoption of cryptocurrencies," said Binance CEO and Founder Changpeng Zhao, adding that "we have invested significantly in compliance and introduced AMLD 5 and 6 compliant tools and policies to ensure that our platform remains the safest and most trustworthy in the industry."Earlier this week, (July 6) Binance to eliminate trading fees on a slew of bitcoin spot trading pairs.