#Crypto.com Receives EU Crypto License#
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Overview
Crypto.com has received in-principle approval for an EU (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 composed of 27 countries. This follows other crypto service providers obtaining MiCA licenses, including Boerse Stuttgart Digital, MoonPay, BitStaete, ZBD, and major brokerage and clearing house Hidden Road. Obtaining full regulatory approval will enable Crypto.com to offer its market-leading crypto services across the EU under a streamlined and robust framework, significantly enhancing transparency in the sector. Notably, Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Boerse Stuttgart, also obtained a MiCA crypto asset service provider license from German regulator BaFin, with plans to expand services for European financial institutions.
Ace Hot Topic Analysis
Analysis
Crypto.com has received the MiCA license in-principle approval from the Malta Financial Services Authority, marking a significant step towards full operations across the European Union. This means Crypto.com is expected to receive its full CASP license soon, allowing it to serve customers in all 27 EU member states. This approval makes Crypto.com the first global exchange to operate under a unified regulatory framework in the EU, significantly enhancing transparency in the industry. Notably, Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Boerse Stuttgart, has also obtained a MiCA crypto-asset service provider license from German regulator BaFin, becoming the first crypto service provider in Germany to receive MiCA approval. These events indicate the EU's active push towards regulating the cryptocurrency industry, providing a clearer legal framework for crypto companies in the European market and a safer trading environment for investors.
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Classic Views
Crypto.com receives in-principle approval for its EU MiCA license, making it the first global exchange to operate under a unified regulatory framework in the EU.
The MiCA license allows the company to provide services to customers across the 27-country European trading bloc, enhancing 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, with plans to expand services to European financial institutions.
Germany's Federal Financial Supervisory Authority has issued a crypto-asset service provider (CASP) license to Stuttgart Digital Exchange under the MiCA regulations which take effect at the end of 2024, making it the first German company to receive permission to operate across the entire EU.