Coinbase obtains approval from the Bank of Spain
In a blog post on September 22, Nana Murugesan, Vice President of International and Business Development at Coinbase, described the Bank of Spain’s approval as a significant achievement. Coinbase can now expand its services to retail consumers, institutional clients and developer partners in the region, she explained.
Murugesan further stated that it is worth noting that many countries are providing much-needed clarity and guidance to the crypto industry.
The SEC crypto attack and the MiCA regulation
In June, the US Securities and Exchange Commission (SEC) filed charges against Coinbase, claiming that the exchange operated as an unregistered stock exchange, broker-dealer, and clearing agency.
This allegation arises from Coinbase’s allegedly unlawful facilitation of the purchase and sale of cryptoasset securities by combining the functions of an exchange, a broker, and a clearing agency without obtaining the necessary records required by the Commission.
However, Coinbase CEO Brian Armstrong has expressed vehement criticism of the SEC, characterizing its regulatory approach as unfair and irrational when applied to digital assets.