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Article: Spain Sees 50% Jump in Crypto Firm Registrations for 2023 Spain Sees 50% Jump in Crypto Firm Registrations for 2023

An Encouraging Sign for Growing Local Web3 Sector

The Spanish Central Bank has reported a whopping 50% growth in the number of licensed crypto-related firms approved to operate in the country in 2023. Approximately 30 firms were recently granted operating permits by the bank, bringing the total number of Bank of Spain-approved crypto operators to 85.

Major Crypto Exchanges Get Green Light

Included in the list are major crypto exchanges like [BitPanda](https://view.officeapps.live.com/op/view.aspx?src=https%3A%2F%2Fwww.bde.es%2Ff%2Fwebbde%2FSGE%2Fregis%2Fregistro_CMV_SCMV_CMC_SCMC.xlsx), [Crypto.com’s](https://www.criptonoticias.com/comunidad/adopcion/espana-registro-empresas-bitcoin-2023-banco-central/) Spanish branch, and [Binance](https://t.co/1FbncqhKcY).

The list also features smaller domestic Web3 firms and crypto custodians. The security provider Prosegur, listed on the Madrid Stock Exchange, is now in the crypto custody space.

Growth Driven by Firms Across Europe

Most of the approved firms are based in Madrid or Barcelona, with some in smaller Spanish cities. Some listed companies are based internationally, in countries such as the Netherlands, Malta, Italy, Austria, Estonia, Lithuania, Finland, Cyprus, Hungary, Luxembourg, the UK, and Germany.

Since October 2021, Spain’s bank has required all crypto-related service providers to apply for licenses involving “extensive electronic documentation.” Spain is implementing the EU’s Markets in Crypto Assets (MiCA) regulation, which adds complexity to registration. Spain has adopted key FATF requirements, including the Travel Rule, which mandates client information sharing by exchanges.

Crypto Adoption on the Rise

Despite regulatory hurdles, crypto adoption is increasing in Spain, with more firms joining the sector and a rise in crypto-powered commerce. Real estate transactions using Bitcoin and altcoins are growing, with Spain leading in listings accepting crypto as payment – surpassing the U.S. On December 21, over 20 houses and apartment listings on real estate platform [Idealista](https://www.idealista.com/en/news/property-for-sale-in-spain/2023/10/11/148888-spain-the-country-with-the-most-properties-available-to-buy-with) indicated acceptance of Bitcoin as payment.

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