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Gate.io prohibited in Spain?
If you are wondering if Gate.io is prohibited in Spain , the answer is yes. The platform is one of the services of restricted cryptocurrencies in the country, mainly due to the regulations imposed by the Spanish financial authorities, including the Comisión Nacional del Mercado de Valores (CNMV) . Consequently, some users seek to get around these restrictions using solutions such as VPNs. But why is Gate.io blocked in Spain? What are the associated risks and what alternatives exist? Let us decipher these questions together.
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Why is Gate.io prohibited in Spain?
Founded in 2013, Gate.io is a cryptocurrency exchange platform offering more than 3,700 digital assets, including trading , term contracts and other derivatives. However, to operate legally in Spain, platforms must comply with local regulatory requirements.
The CNMV requires that any entity offering services on digital assets be duly registered and authorized. Gate.io not having obtained this authorization, the platform has chosen to restrict access to Spanish residents rather than complying with local regulatory requirements.
Cryptocurrency regulation in Spain
In Spain, cryptocurrency regulation is constantly evolving. Although there is no specific legislation framing all the activities related to cryptocurrencies, strict tax obligations have been implemented. For example, from January 1, 2024, Spanish residents must declare all of their assets in cryptocurrencies , including those detained abroad.
The Ministry of Finance, under the supervision of María Jesús Montero, proposed a tax reform allowing the direct seizure of the cryptocurrencies of taxpayers with debts to the tax administration. According to the local media El Economista , the project is already well advanced.
Where is Gate.io accessible outside Spain?
Gate.io is available in more than 165 countries, but some jurisdictions require restrictions due to their local regulations.
Country where gate.io is accessible
Despite certain limitations, the platform remains open in several regions:
- Latin America : Brazil, Peru, Mexico
- Asia : South Korea, Vietnam, Thailand
- Africa : Morocco, Egypt, Nigeria
- Europe (partially) : Italy, Poland, Portugal
Countries where access to Gate.io is restricted or prohibited
According to the conditions of use of Gate.io, several jurisdictions are considered to be "restricted rentals" , preventing their residents from accessing the services of the platform:
- North America & Europe : United States, Canada, France, Germany, United Kingdom, Netherlands, Austria, Spain, Malta
- Asia & Middle East : Continental China, Hong Kong, Singapore, Malaysia, Iran, North Korea, Syria, Indonesia, Japan, Japan
- Latin America & Africa : Venezuela, Bolivia, Argentina, Sudan
- Other regions in conflict : Crimea, Luhansk, Donetsk, Myanmar, Ouzbekistan, Cambodia
Gate.io reserves the right to update this list based on regulatory developments.
Gate.io's regulatory licenses outside Spain
Gate.io has several licenses allowing him to operate legally in certain jurisdictions. However, these licenses do not guarantee automatic compliance worldwide. Each country applies its own regulatory framework, which can limit the scope of the services of Gate.io.
Main licenses obtained by Gate.io
- MFSA (Malta) : Class 4 license for financial services in virtual assets, authorizing the exchange and conservation of digital assets in Malta.
- Austrac (Australia) : Registration as a provider of digital currency exchange services, ensuring compliance with the rules for combating money laundering and the financing of terrorism in Australia.
- SCB (Bahamas) : Authorization issued by the Bahamas securities commission for cryptocurrency trading in this jurisdiction.
- OAM (Italy) : Recording as a service provider on virtual assets, allowing to operate legally in Italy.
- DMCC (Dubai) : License granted by the Dubai Multi Commodities Center, authorizing the trading operations of cryptocurrencies to the United Arab Emirates.
Gate.io continues to adapt its services to the regulatory requirements of each country where it wishes to operate.
Can we have the restriction of Gate.io in Spain?
Although we did not recommend these methods, some users in Spain use solutions such as virtual private networks (VPN) to access Gate.io.
A VPN allows you to hide your IP address and simulate a connection from another country than Spain where Gate.io is accessible.
However, it is crucial to note that the use of VPN to circumvent geographic restrictions can violate the conditions of use of the platform, and Gate.io can block or suspend your account in the event of detection.
Gate.io is worth it?
Gate.io is recognized for its wide range of crypto-actives and its attractive features, in particular:
- Large selection of cryptos : more than 3,700 digital active ingredients listed, including ltc oins.
- Advanced trading : trading options on margin with lever effect and term contracts.
- Marketplace NFT : platform dedicated to the purchase and sale of non -fungible tokens.
- Automated trading tools : copytrading and trading bots to automate strategies.
- Passive yields : possibilities of stuking , yield farming and lending to generate passive income.
However, the platform also has drawbacks:
- Not regulated in Spain : absence of official authorization to operate, resulting in access restrictions.
- Criticized customer service : Users have reported delays and a lack of responsiveness.
- Complex interface : may not be intuitive for beginners in cryptocurrencies.
Alternatives to Gate.io in Spain
Given the unavailability of Gate.io in Spain, it is recommended to turn to regulated platforms offering similar services. Here are some reliable alternatives:
- Binance : World leader in Exchanges, Binance offers a wide range of services, including trading spot, term contracts and various stuking options. The platform is under obtaining the authorizations necessary to operate legally in Spain in accordance with the MiCA .
- Bitvavo : European Exchange based in the Netherlands renowned for its transparent and competitive costs, Bitvavo offers a friendly interface adapted to beginners and confirmed traders. It presents the particularity of clearly displaying the user the costs and rare applied spreats, allowing all transparency by avoiding costs that certain exchanges tend to hide.
- Coinbase : Ideal for beginners, Coinbase offers an intuitive interface and reactive customer service. The platform is registered with the Spanish authorities and in accordance with local regulations.
- Crypto.com : multipurpose platform offering a wide range of services, including a Crypto Visa card and attractive yields. Crypto.com obtained registration as a supplier of virtual asset services from the Spanish bank, allowing it to operate legally in the country.
For crypto trading in complete compliance in France, favor Bitvavo, Binance, Coinbase and Crypto.com, all recorded with the AMF!
If you are looking for a regulated platform in France, favor exchanges with PSAN approval (Binance, Coinbase, Bitvavo, Crypto.com) to avoid any legal restriction.
Otherwise you can buy your cryptocurrencies directly from a decentralized wallet (Metamask, Exodus, Trust Wallet ) by holding your funds directly on the blockchain.
If you do not know how to proceed, we offer our free ultra-detailed guide step by step with screenshots.
What you will learn in this guide:
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✅ Use a decentralized portfolio ( DeFi ) - Manage your assets out of the centralized platforms and perform transactions on the blockchain.
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Investments in cryptocurrencies are risky. Crypternon could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a property or service put forward in this article. Readers must do their own research before undertaking any action and investing only within the limits of their financial capacities. Past performance does not guarantee future results. This article does not constitute an investment .
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AMF recommendations. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital .
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Yohan Uzzan
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
