Spain's National Securities Exchange Commission (CNMV) has issued warnings about 12 entities not being registered for investment services, including crypto exchanges Huobi and Paybit.
Regulators around the world continue to keep the pressure on crypto companies renewed. Spain's National Securities Exchange Commission is the latest to issue a warning about several businesses linked to cryptocurrency and financial markets for unregistered services.
According to the official document, the authority issued warnings about 12 entities on Monday for not being registered in the authority's corresponding registry. The listed entities, which include major cryptocurrency exchanges such as Huobi and Paybit, are not authorized to provide investment services within Spain.
The advisory page of the Spanish National Securities Market Authority states that only registered companies are authorized to provide securities-related services.
While the Securities and Exchange Commission does not have the power to directly ban an entity from operating in the state, Spain's National Securities Market Authority can appeal to the courts.
A November report from Spain's Crypto Company Guide revealed that 120 crypto companies are already registered and operating in Spain.
Spain has created a fairly friendly environment for crypto companies last year.
As the Queen Telegraph summarized in Spanish, the Commission on Economic Affairs and Digital Transformation has approved a law to create a fintech pilot fund.
Speaking to the Coin Telegraph, University of Seville professor Ismail Santiago said the pilot fund would favor the creation of new value-added jobs, technological development and economic competitiveness.
Recently, the Spanish Socialist Workers' Party made an illegal proposal to launch a national digital currency in response to the European Central Bank's experiments with the digital euro.
The proposal states that a national digital currency will provide higher liquidity if monetary expansion is necessary. It allows a more direct mechanism by injecting liquidity directly into current accounts and thus transferring it immediately and without intermediaries.
