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Gate.io banned in Spain?
If you're wondering whether Gate.io is banned in Spain , the answer is yes. The platform is among the cryptocurrency services restricted in the country, primarily due to regulations imposed by Spanish financial authorities, particularly the Comisión Nacional del Mercado de Valores (CNMV) . As a result, some users seek to circumvent these restrictions by using solutions like VPNs. But why is Gate.io blocked in Spain? What are the associated risks, and what alternatives exist? Let's explore these questions together.
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Why is Gate.io banned in Spain?
Founded in 2013, Gate.io is a cryptocurrency exchange platform offering over 3,700 digital assets, including trading , futures 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 related to digital assets be duly registered and authorized. Since Gate.io did not obtain this authorization, the platform chose to restrict access to Spanish residents rather than comply with local regulatory requirements.
Cryptocurrency regulation in Spain
In Spain, cryptocurrency regulations are constantly evolving. While there is no specific legislation governing all crypto-asset activities, strict tax obligations have been put in place. For example, starting January 1, 2024, Spanish residents must declare all their cryptocurrency holdings , including those held abroad.
The Ministry of Finance, under the leadership of María Jesús Montero, has proposed a tax reform allowing for the direct seizure of cryptocurrencies belonging to taxpayers who owe money to the tax authorities. According to the local newspaper El Economista , the project is already well underway.
Where is Gate.io accessible outside of Spain?
Gate.io is available in more than 165 countries, but some jurisdictions impose restrictions due to their local regulations.
Countries where Gate.io is accessible
Despite some 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 Gate.io's terms of service, several jurisdictions are considered "Restricted Locations ," preventing their residents from accessing the platform's services:
- North America & Europe : United States, Canada, France, Germany, United Kingdom, Netherlands, Austria, Spain, Malta
- Asia & Middle East : Mainland China, Hong Kong, Singapore, Malaysia, Iran, North Korea, Syria, India, Indonesia, Japan
- Latin America & Africa : Venezuela, Bolivia, Argentina, Sudan
- Other regions in conflict : Crimea, Luhansk, Donetsk, Myanmar, Uzbekistan, Cambodia
Gate.io reserves the right to update this list in accordance with regulatory changes.
Gate.io's regulatory licenses outside of Spain
Gate.io holds several licenses that allow it to operate legally in certain jurisdictions. However, these licenses do not guarantee automatic global compliance. Each country applies its own regulatory framework, which may limit the reach of Gate.io's services.
Main licenses obtained by Gate.io
- MFSA (Malta) : Class 4 license for virtual asset financial services, authorizing the exchange and custody of digital assets in Malta.
- AUSTRAC (Australia) : Registered as a digital currency exchange service provider, ensuring compliance with Australian anti-money laundering and counter-terrorist financing rules.
- SCB (Bahamas) : Authorization issued by the Bahamas Securities Commission for cryptocurrency trading in that jurisdiction.
- OAM (Italy) : Registration as a virtual asset service provider, allowing to operate legally in Italy.
- DMCC (Dubai) : License granted by the Dubai Multi Commodities Centre, authorizing cryptocurrency trading operations in the United Arab Emirates.
Gate.io continues to adapt its services to the regulatory requirements of each country where it wishes to operate.
Is it possible to bypass the Gate.io restriction in Spain?
Although we do not recommend these methods, some users in Spain use solutions such as virtual private networks (VPNs) to access Gate.io.
A VPN allows you to mask your IP address and simulate a connection from a country other than Spain where Gate.io is accessible.
However, it is crucial to note that using a VPN to bypass geographical restrictions may violate the platform's terms of service, and Gate.io may block or suspend your account if detected.
Is Gate.io worth it?
Gate.io is known for its wide range of crypto assets and attractive features, including:
- Large selection of cryptos : Over 3,700 digital assets listed, including ltc .
- Advanced trading : Leveraged margin trading options and futures contracts.
- NFT Marketplace : A platform dedicated to the buying and selling of non-fungible tokens.
- Automated trading tools : Copytrading and trading bots to automate strategies.
- Passive returns : Opportunities for staking , yield farming and lending to generate passive income.
However, the platform also has drawbacks:
- Unregulated in Spain : Lack of official authorization to operate, resulting in access restrictions.
- Customer service criticized : Users have reported delays and a lack of responsiveness.
- Complex interface : May not be intuitive for cryptocurrency beginners.
Gate.io alternatives in Spain
Given the unavailability of Gate.io in Spain, it is recommended to turn to regulated platforms offering similar services.
You can invest in cryptocurrencies in Spain with Gemini.
The platform offers:
- Top-notch security, with “cold” storage of the majority of funds
- A dual interface: a simplified application for beginners and ActiveTrader , an advanced platform offering decreasing fees according to volume and a competitive order book.
- Access to more than 60 cryptocurrencies, as well as a rare offering on the market: tokenized stocks (Nvidia, Apple, etc.). These products replicate the price of real stocks via tokens issued directly on the Gemini platform, allowing them to be purchased and traded 24/7 like cryptocurrencies, without going through a traditional stock broker.
- Strict regulatory compliance, with Gemini being one of the first platforms approved in the United States and holding the European license ( MiCA ).
- Additional services such as staking to generate returns on these cryptocurrencies.
Gemini therefore allows you to invest in both cryptocurrencies and tokenized stocks, all in a secure and regulated environment.
If you don't know how to proceed, we offer our free, ultra-detailed step-by-step guide with screenshots.
What you will learn:
✔ Buying your first cryptocurrencies – A detailed tutorial to get started on a centralized exchange platform.
✔ Securing your transactions – Best practices for buying, selling, and trading cryptocurrencies while minimizing risk.
✔ Understanding stablecoins stablecoin Their usefulness, differences, and how to use them to stabilize your funds during periods of volatility.
✔ Mastering a decentralized wallet ( DeFi ) – Learn how to manage your assets without intermediaries and interact directly with the blockchain.
✔ Transacting via a decentralized wallet – A practical guide to trading cryptocurrencies independently.
✔ Exploring decentralized finance ( DeFi ) – Discover advanced concepts like staking and NFTs .
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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 advice.
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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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Yoann
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.
