CNMV issues warnings on unregistered financial and crypto entities

The Comisión Nacional del Mercado de Valores (CNMV) has issued warnings regarding unregistered financial and cryptocurrency entities operating without proper registration. These warnings were published on the CNMV's official website on March 31, 2025.

According to the CNMV, multiple unregistered entities, including Vida Markets, Network Capital Ltd, DTX Exchange, Bull Trade Club, Coinstock Hub Ltd, Ominecoin Limited, Stock Funds Limited, Cadre Traders, Option Forex Traders, XNOR Technologies Ltd, AuthpipsFX, BPC-FS, Prime Digital Assets, Zircon FX Limited, EasyAlgo, and Crypto Victor are not listed in the CNMV’s registry. These entities are unauthorized to offer investment services or other activities under the CNMV's oversight.

The CNMV states that it issues warnings to protect investors from unauthorized entities that provide investment services or engage in financial activities without proper registration or authorization. It is noted that these entities often operate outside regulatory oversight, increasing the risk of capital loss for investors. The CNMV also collaborates with foreign regulators to share warnings about such entities to inform investors and reduce risks.

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According to DataBitlaw, all registered Virtual Asset Service Providers (VASPs), including Binance and Bit2Me, are excluded from the CNMV grey list. This list identifies entities operating in Spain without regulatory authorization or registration as part of a regulatory update. The update applies broadly to entities that have transitioned to regulated status under the Markets in Crypto-Assets Regulation (MiCA). The adjustment reflects the alignment of these entities with European Union regulatory requirements during the grandfathering period.

The CNMV oversees Spain's securities markets to ensure transparency, accurate pricing, and investor protection. Created by the 1988 Securities Market Law, it supervises securities issuers, investment service providers, and collective investment schemes while focusing on market stability and system solvency. It manages public records of market participants and advises the government and Ministry of Economy on securities matters. Additionally, it actively engages with international organizations like the International Organization of Securities Commissions (IOSCO), European Securities and Markets Authority (ESMA), and Financial Stability Board (FSB).