Summary

Despite an increase in the number of crypto firms registered in Spain in 2023, the number of registrations in 2022 still exceeds that of 2023. The registration process didn’t open until 2022, which may explain the difference in numbers. However, major names like Coinbase and Kraken have obtained registrations, and domestic enterprises hold the majority of licenses.

Introduction

In Spain, the number of crypto firms registered in 2022 is higher than the number registered in 2023. While the registration process started in 2022, it seems that it contributed to the higher number of registrations. Not all major players in the industry have obtained licenses yet, but domestic enterprises hold the majority of licenses, indicating their dominance in the market.

Main Points

1. The number of crypto firms registered in Spain in 2022 is higher than the number registered in 2023.

2. The registration process started in 2022, which may explain the higher number of registrations.

3. Major names like Coinbase and Kraken have obtained virtual asset service provider registrations and Anti-Money Laundering compliance registrations.

4. Out of 85 licenses, 61 are held by domestic enterprises, indicating their dominance in the market.

Conclusion

In Spain, the crypto industry is experiencing growth in registrations, although the number of firms registered in 2022 still exceeds that of 2023. The registration process starting in 2022 may explain this difference. Major players like Coinbase and Kraken have obtained licenses, and domestic enterprises continue to dominate the market. The Spanish government has also taken steps to regulate the cryptocurrency sector, including adopting the EU’s MiCA Regulation and issuing warnings to those who owed cryptocurrency taxes for the fiscal year of 2022.