Binance Disables Derivatives Services in Spain

One of the world's largest crypto exchanges, Binance has disabled derivative services in Spain while applying for regulatory approval from the Comisión Nacional del Mercado de Valores (CNMV), the report said. 

Binance's website in Spain has removed the derivative drop-down menu, and local newspapers report that the company has temporarily suspended the provision of derivatives in order to comply with regulations and eligibility standards set by the government agency. 

Binance is now on the CNMV greylist along with other crypto exchanges such as Coinbase and Bit2Me. The gray list shows organizations that are not allowed to operate as fully licensed entities in the country. Last week, Binance received a digital asset service provider license from the financial market regulators in France.