Crypto.com has received a preliminary MiCA license, moving them a step closer to complete adherence with all EU regulations regarding cryptocurrencies.
The cryptocurrency exchange platform has been among the initial significant players to receive preliminary authorization from the European Union’s Markets in Crypto-Assets regulatory framework.
Under the MiCA framework, businesses are able to offer their services throughout the European Union’s 27 member states, as long as they secure authorization from the relevant financial authorities in each country.
The January 17th announcement by Crypto.com does not reveal which European Union nation has given them the initial MiCA license. Nevertheless, it’s speculated that they obtained approval from the French administration, considering their European regional office is situated in Paris.
In a comment about the progress, Eric Anziani, President and COO of Crypto.com, stated that the company feels the regulations set forth by MiCA will strengthen trust within the cryptocurrency industry by offering clearly defined legal frameworks.
Our stance has consistently been one of unwavering backing for MiCA. We are convinced that this initiative will provide necessary clarity, promote transparency, and foster a smoother regulatory environment within the European Union, ultimately boosting trust and credibility in the cryptocurrency market.
Eric Anziani, Crypto.com President and COO
A number of businesses are competing to obtain MiCA licenses, marking the first all-encompassing regulatory framework for cryptocurrency within a significant economic union. Yet, only a limited number of organizations have been granted approval at this stage, as countries are still in the process of enacting the law’s stipulations.
In the past week, four cryptocurrency startups, including MoonPay, received MiCA licenses from Dutch authorities. Boerse Stuttgart was the first German company to secure MiCA approval, which they did through BaFin. Notably, Coinbase applied for a MiCA license in Ireland as far back as 2023, while Circle received the EU’s initial approval under the MiCA framework the previous year.
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2025-01-17 20:36