#Crypto.com Receives EU Crypto License#
Hot Topic Overview
Overview
Crypto.com has received in-principle approval from the Malta Financial Services Authority, bringing it closer to obtaining a European Union Crypto Assets Market (MiCA) license. This means Crypto.com is expected to receive its full CASP license soon, allowing it to operate across all 27 EU member states. This follows other crypto service providers like Boerse Stuttgart Digital, MoonPay, BitStaete, ZBD, and Hidden Road in receiving MiCA licenses. Notably, Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Boerse Stuttgart, also received a MiCA crypto asset service provider license from the German regulator BaFin, becoming the first German company to receive a license allowing it to operate across the EU. These events indicate the EU's active advancement of its crypto regulatory framework, creating a clearer path for the crypto industry to operate legally in Europe.
Ace Hot Topic Analysis
Analysis
Crypto.com has received in-principle approval from the Malta Financial Services Authority, bringing it closer to obtaining a European Union (EU) Markets in Crypto-assets (MiCA) license, which will allow it to operate fully across the EU. Obtaining a MiCA license will enable Crypto.com to serve customers in all 27 EU member states under a unified regulatory framework and enhance industry transparency. It is worth noting that Crypto.com is not the first crypto service provider to obtain a MiCA license. Boerse Stuttgart Digital, a subsidiary of the German stock exchange operator Stuttgart Stock Exchange, has already obtained a MiCA crypto asset service provider license from the German regulator BaFin and plans to expand its services to European financial institutions. Furthermore, financial service provider Tradevest has also secured a cryptocurrency custody and securities registration license from the German Federal Financial Supervisory Authority (BaFin). The MiCA regulation will come into force at the end of 2024 and is expected to bring a clearer regulatory environment for the EU's crypto industry.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Crypto.com has received in-principle approval for an EU MiCA license, bringing it one step closer to being able to operate fully across the trading bloc.
The MiCA license allows companies to serve customers in the European trading bloc, made up of 27 countries, and will enable Crypto.com to offer its market-leading crypto services across the entire EU under a streamlined and robust framework.
Securing the MiCA license will significantly increase transparency in the industry.
Crypto.com will soon join the likes of Boerse Stuttgart Digital, MoonPay, BitStaete, ZBD, and major brokerage and clearing house Hidden Road, who have all obtained MiCA licenses.