Spain’s CNMV Names Four Entities Without Crypto Service Authorization

Spain’s Comisión Nacional del Mercado de Valores (CNMV) identified four entities without authorization for regulated crypto-asset services in an Oct. 13 warning, naming the operators on its list of unregistered institutions.

The entities are GDLP, EXCHSEC, ZSYSC and CMC GROUP MARKETS. The notices for all four address activities reserved for authorized crypto-asset service providers in Spain. GDLP and CMC GROUP MARKETS also lack authorization to provide investment services, including foreign exchange transactions. The notices for EXCHSEC and ZSYSC address crypto-asset activities.

The four names appeared together in the same Oct. 13 warning covered earlier as a broader alert on unregistered financial institutions. In Spain, unregistered financial operators are often called “chiringuitos financieros,” or financial boiler rooms.

The CNMV urged consumers to check whether an institution is authorized before entering into financial activity. Its notices specify which types of regulated services each of the four entities lacks permission to provide.