#Crypto.com Receives MiCA License#
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Overview
Crypto.com has received in-principle approval for a European Union (EU) Markets in Crypto-assets (MiCA) license from the Malta Financial Services Authority, bringing it closer to being able to operate fully across the trading bloc. This means Crypto.com is expected to soon receive its full CASP license, allowing it to serve customers in the European trading bloc of 27 countries. Additionally, Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Stuttgart Stock Exchange, has also received a MiCA crypto-asset service provider license from the German regulator BaFin, becoming the first crypto service provider in Germany to obtain a MiCA license. These events indicate that more and more cryptocurrency exchanges are obtaining MiCA licenses, which will help improve transparency in the industry and pave the way for further development of cryptocurrencies in the EU.
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Analysis
Crypto.com has received in-principle approval for a MiCA license from the Malta Financial Services Authority, meaning it will soon obtain a full CASP license, enabling it to operate fully across the European Union. This makes Crypto.com the first global exchange to operate under a unified regulatory framework in the EU. Previously, Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Boerse Stuttgart, also received a MiCA crypto asset service provider license from German regulator BaFin, becoming the first crypto service provider in Germany to obtain a MiCA license. The MiCA regulation will come into effect at the end of 2024, aiming to provide a unified regulatory framework for the crypto asset market in the EU, increase transparency in the industry, and offer better protection for investors.
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Classic Views
Crypto.com receives in-principle approval for 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 customers in the 27-nation European trading bloc, enhancing transparency in the industry.
Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Boerse Stuttgart, has received a MiCA crypto asset service provider license from German regulator BaFin, planning to expand services for European financial institutions.
Obtaining the MiCA license will enable Crypto.com to offer its market-leading crypto services across the EU, significantly increasing transparency in the industry.