CNMV issues warnings on unregistered financial and crypto entities

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CNMV issues warnings on unregistered financial and crypto entities

Web3/Crypto

Carlos San Basilio, President of The Comisión Nacional del Mercado de Valores | European Banks for Reconstruction and Development

By Crypto Republique

Apr 13, 2025

The Comisión Nacional del Mercado de Valores (CNMV) has announced the issuance of warnings concerning unregistered financial and cryptocurrency entities operating without proper authorization. These warnings were published on the CNMV's official website on April 7, 2025.

According to the CNMV, multiple websites and entities, including thebitcoineer.com, rapidtethertrade.com, and trade.capinvest.ltd, among others, have been flagged. These names appear in CNMV records as not being listed in the official registry and are therefore unauthorized to provide investment or financial services in Spain. Entities identified include Bitcoineer (with several domains), Rapid Trade, Trade Capinvest Ltd, Crescendo Capital, Groot Earnings, Vestor Premier, Forex Zone Trading, Capital Tower, Crypttradex, Iberestado, Vex Group, and Venturomix.

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

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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. According to DataBitlaw, this update applies broadly to entities that have transitioned to regulated status under the Markets in Crypto-Assets Regulation (MiCA). The adjustment reflects these entities' alignment 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 with a focus on market stability and system solvency. It manages public records of market participants and advises the government and Ministry of Economy on securities matters while actively engaging with international organizations like IOSCO (International Organization of Securities Commissions), ESMA (European Securities and Markets Authority), and FSB (Financial Stability Board).