The Comisión Nacional del Mercado de Valores (CNMV) has issued alerts regarding entities operating without the necessary registration, including some providing cryptocurrency services. The alerts were published on the CNMV's official website on March 12, 2025.
According to the National Securities Market Commission (CNMV), warnings have been issued about several entities, including Elitetradefxt, heliususdc.com, and various clones such as Abr Chesapeake Ireland IV Plc, Zippy Lends, and Eolas Finance Ltd. These organizations are unregistered with the CNMV. Other entities like Mwm Group, All Capital Inc, and Cfx Fund Management Limited are also not authorized to offer investment services or activities under CNMV supervision because they are not listed in the official CNMV registry.
The CNMV issues warnings to protect investors from unauthorized entities that provide investment services or engage in financial activities without proper registration or authorization. According to the CNMV, these entities often operate outside regulatory oversight, which increases the risk of capital loss for investors. The commission also collaborates with foreign regulators to share warnings about such entities, aiming to inform investors and reduce risks.
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 Markets in Crypto-Assets Regulation (MiCA). According to DataBitlaw, this 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, advises the government and Ministry of Economy on securities matters, and actively engages with international organizations like IOSCO (International Organization of Securities Commissions), ESMA (European Securities and Markets Authority), and FSB (Financial Stability Board).