#Crypto.com Granted EU License#
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Overview
Crypto.com has received in-principle approval from the Malta Financial Services Authority, bringing it closer to securing a European Union (EU) Markets in Crypto-Assets (MiCA) license, which will allow it to operate fully across the EU trading zone. This means Crypto.com is expected to soon obtain its full CASP license, enabling it to serve clients across the EU under a streamlined and robust framework. Notably, Boerse Stuttgart Digital, a subsidiary of the German stock exchange operator Stuttgart Stock Exchange, has also received a MiCA crypto asset service provider license from German regulator BaFin, becoming the first crypto service provider in Germany to obtain MiCA approval. These events signal a move towards increased regulation in the cryptocurrency industry, creating new opportunities for companies providing crypto services within the EU.
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Analysis
Crypto.com has received in-principle approval for a European Union (EU) Markets in Crypto-Assets (MiCA) license from the Malta Financial Services Authority, meaning it will soon receive a full CASP license, enabling it to operate fully across the EU. This follows the granting of a MiCA crypto-asset service provider license by Germany's BaFin to Boerse Stuttgart Digital, a subsidiary of the German stock exchange operator, Boerse Stuttgart. The MiCA license will enable Crypto.com to offer its market-leading crypto services across the EU within a streamlined and robust framework, significantly enhancing transparency within the industry. Currently, companies such as Boerse Stuttgart Digital, MoonPay, BitStaete, ZBD, and major brokerage and clearing house Hidden Road have received MiCA licenses. The awarding of a MiCA license to Crypto.com signifies the continuous evolution of the regulatory environment for the crypto industry in Europe, bolstering confidence for crypto service providers operating within the EU market.
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Classic Views
Crypto.com receives in-principle approval for an EU MiCA license, bringing it closer to operating across the entire European Union.
The MiCA license allows the company to serve customers in the trading bloc of 27 EU countries, boosting 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 Germany's financial regulator BaFin, planning to expand services offered to European financial institutions.
The MiCA license will allow Crypto.com to offer its market-leading crypto services across the EU under a streamlined and robust framework.