#Crypto.com Granted EU Crypto License#
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Overview
Crypto.com has received in-principle approval for an EU crypto asset market (MiCA) license from the Malta Financial Services Authority, meaning the company is on track to obtain a full CASP license, allowing it to operate across the EU. This is a significant milestone for Crypto.com in its pursuit of MiCA licensing, making it the first global exchange to operate under the unified regulatory framework in the EU. Previously, Boerse Stuttgart Digital, a subsidiary of the German stock exchange operator Stuttgart Stock Exchange, also received a MiCA crypto asset service provider license from Germany's financial regulator BaFin, becoming the first crypto service provider in Germany to receive a MiCA license. These events signal that the EU is actively driving regulation in the crypto industry, providing a clearer legal framework for crypto companies to operate in the European market.
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Analysis
Crypto.com has received in-principle approval for an EU (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 across the entire EU. This is a license Crypto.com has been working towards obtaining since the bespoke crypto legislation passed in 2023, which will allow the company to provide services to customers across the 27-nation European trading bloc. Gaining full regulatory approval will allow Crypto.com to offer its market-leading crypto services across the EU under a streamlined and robust framework, significantly enhancing transparency in the industry. Notably, Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Boerse Stuttgart, has 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. These events indicate that the EU is actively pushing for regulation of the crypto industry and providing a clearer operating environment for crypto companies.
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Classic Views
Crypto.com has received in-principle approval for a MiCA license from the European Union, making it the first global exchange to operate in the EU under a unified regulatory framework.
The MiCA license allows the company to provide services to customers across the European trading area of 27 countries, increasing 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 Germany's financial regulator BaFin, planning to expand services to European financial institutions.
Stuttgart Digital Exchange becomes the first crypto service provider in Germany to receive a MiCA license.