Spain's National Securities Market Commission (CNMV) has issued a warning against several companies offering cryptocurrency-related services.
In total, the list includes 12 companies, including cryptocurrency platforms Huobi and Bybit. The regulator's message reads:
"According to the records of the CNMV, these institutions are not registered in the corresponding registry and, therefore, are not authorized to provide investment services or to develop other activities subject to the supervision of the CNMV."
The list also includes token issuer N2 Group, as well as digital asset-backed trading platforms Dsdaq Market, Markets Cube and Expertise Trader.
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While these are not prohibited from directly serving Spanish residents, as the CNMV does not have this power, the regulator can seek restrictions in court. The regulator's notification in this case should be a warning to traders and investors.
In June it became known the CNMV and the Bank of Spain, together with the ECB, will receive powers to regulate the digital asset market in the country.