#Crypto.com Granted MiCA License#
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Overview
Crypto.com has received in-principle approval from the Malta Financial Services Authority (MFSA) for the MiCA framework, meaning it is on track to receive a full CASP license, allowing it to operate across the European Union. This follows the recent MiCA approval granted to Stuttgart Digital Exchange in Germany, making it the second crypto exchange to receive such a license. The MiCA license allows companies to provide crypto asset services across 27 EU countries, which will help to enhance industry transparency and provide Crypto.com with a more robust regulatory framework in the EU market.
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Analysis
Crypto.com has received in-principle approval for its MiCA license from the Malta Financial Services Authority, meaning it is on track to obtain a full CASP license, allowing it to operate fully across the European Union. This follows Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Boerse Stuttgart, receiving a MiCA crypto-asset service provider license from German regulator BaFin, making it the first crypto service provider to obtain a MiCA license. Obtaining a MiCA license will allow Crypto.com to offer its market-leading crypto services across the EU and increase transparency in the industry. Notably, Boerse Stuttgart Digital is also the first crypto service provider in Germany to obtain a MiCA license. It has been authorized by the Federal Financial Supervisory Authority (BaFin) to operate across the EU. These events highlight the EU's proactive approach to regulating the cryptocurrency industry and providing clearer regulatory frameworks for crypto service providers, which will help enhance transparency and security in the sector.
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Crypto.com receives in-principle approval for a MiCA license, making it the first global exchange to operate in the EU under a unified regulatory framework.
The MiCA license allows the company to serve clients in the European trading zone of 27 countries, increasing transparency in the industry.
Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Boerse Stuttgart, received a MiCA crypto asset service provider license from German regulator BaFin, planning to expand services to European financial institutions.
Obtaining a MiCA license will allow Crypto.com to offer its market-leading crypto services across the EU, significantly increasing transparency in the industry.