Fintech Lawyers

Register your cryptocurrency platform with SEPBLAC and Bank of Spain

It complies with the European regulations on money laundering comfortably and safely. AML5, MiCA, internal prevention...
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How to register cryptocurrency platforms

rd 7/2021
Royal Decree-Law 7/2021 imposes on cryptocurrency platforms the obligation to register in the Sepblac and Bank of Spain registries to operate. This obligation derives from European regulations on money laundering.
Among other duties, it imposes on crypto-asset exchange and sale platforms the obligation to appear in both registries, otherwise facing significant penalties.
In addition, these companies must appoint a representative in Sepblac and supervise their clients' performance to detect suspicious money-laundering operations. The transposition of the AML5 thus becomes the first step in the regulation of the crypto-assets sector, facilitating a more formalized framework that will conclude with the MiCA regulation.

What happens if I don't register my crypto company?

The new regulations impose penalties ranging between 150,000 and 10 million euros for companies that do not register with the Bank of Spain. For companies that do not appear in the Sepblac register, these penalties will range between 60,000 and 5 million euros.
Similar sanctions may be imposed on companies not complying with European regulations on the prevention of money laundering. Furthermore, they may mean the disqualification of the person in charge.
Such sanctions are administrative, which makes them compatible with the possible criminal responsibility that could derive from the commission of crimes of terrorist financing or money laundering.

Register your cryptocurrency platform with the maximum guarantees

You only have 9 months to comply with the new obligations: BdE and Sepblac registration, supervision, information on suspicious transactions, registration of holders... Ensure you are up to date with the help of our fintech specialists.

Let us take care of your firm's registration and audit

COMPLETE ADVISORY SYSTEM FOR FINTECH COMPANIES
We are specialists in advising crypto active companies. We can manage to register your platform both in the Spanish Bank and in the Sepblac. In addition, we can advise you and audit your company to ensure that you comply with all regulations on the prevention of money laundering.

Compliance with obligations regarding prevention

Besides the registration obligation, cryptocurrency trading and exchange platforms are now understood as financial entities. This implies the obligation to report suspected money laundering or terrorist financing operations. We help you comply with these obligations by looking after your clients' rights and assuring total confidentiality.

Fintech Specialists' legal advice

Most of the companies in the sector are not yet ready to comply with European regulations on the prevention of money laundering. Update your company to guarantee maximum legal security.

Compliance and preventive audits

A way of implementing detection and prevention systems to avoid the commission of criminal and administrative offences. We pinpoint risks and isolate responsibilities to keep your company safe from criminal convictions.

Registration of wallets and platforms for the exchange and sale of crypto assets

We take care of the registration of your cryptocurrency exchange and sale platform, and we help you comply with the growing regulations of the sector. Remember that the registry is subject to compliance with commercial criteria and principles of good repute and professionalism.

registro sepblac criptodivisas

Keys to the new obligations of cryptocurrency platforms

Remember, the AML5 directive transposition imposes new obligations on cryptocurrency platforms, now assimilated to financial institutionsRemember, the AML5 directive transposition imposes new obligations on cryptocurrency platforms, now assimilated to financial institutions
INSTITUTION

Institutional registration

In front of the Bank of Spain and the Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offenses
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titularity

Record ownership

Cryptocurrency platforms must register their clients and follow their activities
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sepblac

Collaboration

They must report suspicious operations and collaborate with the Prosecutor's Office or Sepblac when required
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register

9-month term

To comply with the new obligations and register in the BdE and Sepblac records
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sanctions

Fines

Up to 10 million euros, cumulative to criminal convictions and other sanctions
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MICA

First step

Of the sector's regulation, awaiting the MiCA Regulation and other normative changes
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Who we are?

An attolon project

We are a technological platform of legal services to companies with top-level lawyers.

We offer a new way of providing legal services with the best talent and the latest technology.

Flexibly and without unnecessary costs.

Our lawyers count with an average of 10 years of experience in the most prestigious law firms in the sector.

They appear in the most reputable directories, featured as the best attorneys in their area of practice.

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DO YOU NEED A FINTECH LAWYER TO REGISTER YOUR CRYPTOCURRENCY PLATFORM?

Find now your lawywer to register your cryptocurrency platform with SEPBLAC and Bank of Spain

Abogados Fintech

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