#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, making it the first global exchange to operate in the EU under a unified regulatory framework. This means that Crypto.com is expected to receive its full CASP license soon, allowing it to provide services across all 27 EU countries. In addition to Crypto.com, Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Boerse Stuttgart, has also been granted a MiCA crypto asset service provider license by the German regulator BaFin, with plans to expand its services to European financial institutions. These events indicate that an increasing number of cryptocurrency exchanges are obtaining MiCA licenses, which will help to enhance transparency and regulation in the industry.
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Analysis
Crypto.com has received in-principle approval for a MiCA license from the Malta Financial Services Authority, meaning it is on track to receive its full CASP license soon, enabling it to operate across the European Union. This follows the German Stuttgart Digital Exchange obtaining a MiCA license, making it the second crypto exchange to achieve this milestone. The MiCA license allows companies to provide services to customers in all 27 member states of the European Union, enabling Crypto.com to offer its market-leading crypto services to EU customers under a unified regulatory framework, increasing transparency within the industry. Other exchanges that have obtained MiCA licenses include Boerse Stuttgart Digital, MoonPay, BitStaete, ZBD, and major brokerage and clearing firm Hidden Road.
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Crypto.com receives 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 clients in the European trading area of 27 countries, enhancing industry transparency.
Boerse Stuttgart Digital, a subsidiary of German stock exchange operator Stuttgart Stock Exchange, has also received a MiCA license and plans to expand its services to European financial institutions.
The issuance of the MiCA license marks a further development in EU cryptocurrency regulation, providing a clearer framework for the legitimate operation of the cryptocurrency industry in Europe.