#Crypto.com Receives MiCA License#
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Overview
Crypto.com has received in-principle approval for a MiCA license from the Malta Financial Services Authority, meaning it is poised to obtain a full CASP license, enabling it to operate fully across the European Union. This follows Boerse Stuttgart Digital, a subsidiary of the Stuttgart Stock Exchange in Germany, receiving a MiCA crypto asset service provider license from Germany's BaFin. A Crypto.com spokesperson said the company receiving full regulatory approval will allow it to offer its market-leading crypto services across the EU under a streamlined and robust framework, significantly increasing transparency within the industry.
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Analysis
Crypto.com has received in-principle approval for its MiCA license from the Malta Financial Services Authority, which means it will soon receive a full CASP license, allowing it to offer services across the European Union. This follows Boerse Stuttgart Digital, a subsidiary of the German stock exchange operator Stuttgart Stock Exchange, receiving a MiCA crypto asset service provider license from the German regulator BaFin. Obtaining a MiCA license will enable Crypto.com to offer its market-leading crypto services across the EU and increase transparency in the industry. In addition, the German Federal Financial Supervisory Authority (BaFin) has also granted a cryptocurrency custody and securities registration license to financial services provider Tradevest. These events indicate that Europe is actively pushing for regulation of the cryptocurrency industry and providing a clearer regulatory framework for crypto service providers to facilitate their legitimate operations within the EU.
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Crypto.com received in-principle approval for a MiCA license from the Malta Financial Services Authority, meaning it is on track to obtain a full CASP license, allowing it to operate across the European Union.
A MiCA license permits companies to serve clients in the trading bloc of 27 EU countries, which will increase transparency within the crypto industry.
Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Boerse Stuttgart, has received a MiCA crypto-asset service provider license from Germany's financial regulator BaFin, with plans to expand services to European financial institutions.
Germany's Federal Financial Supervisory Authority (BaFin) has granted a crypto-asset service provider (CASP) license to Stuttgart Digital Exchange, making it the first German company to receive permission allowing it to operate across the entire European Union.