The National Securities Market Commission (CNMV) has announced a list of warnings concerning unregistered financial and cryptocurrency service entities. These entities were reported through international supervisory authorities.
According to the CNMV, the list includes entities such as Easy Fundr (clone), Sector-Fusion (clone), Ocean Minner, Reichmann Group, Optira FX, Smartcoin, Fibonachis, and Mabewo Holding SE. The warnings were issued by regulators including the Central Bank of Ireland (CBI), Financial Supervisory Authority of Norway (FSAN), Netherlands Authority for the Financial Markets (AFM), and Federal Financial Supervisory Authority of Germany (BaFin). Some entities like Easy Fundr and Sector-Fusion were identified as clones, while others, such as Mabewo Holding SE, were found to be offering securities without the required documentation.
The CNMV issues these warnings to protect investors from unauthorized entities that provide 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. To avoid confusion, some unauthorized firms falsely use CNMV's name to present themselves as legitimate. The CNMV collaborates with foreign regulators to share warnings about such entities, aiming to inform investors and reduce risks. The commission also offers a search engine for investors to verify whether an entity is authorized.
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). This adjustment reflects their 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. 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).
