MoonPay Gets MiCA Approval for Crypto Market In Netherlands

The sky in Amsterdam has turned blue to celebrate the Moonpay’s entry into the crypto markets of the European Union. The renowned crypto infrastructure service provider has officially received approval to operate under the European Union’s Markets in Crypto-Assets (MiCA) regulation from the Netherlands.

MoonPay secured its license from the Netherlands’ Authority for the Financial Markets (AFM), and this milestone grants it the ability to offer services seamlessly across the European Economic Area (EEA).

Source: X

Ivan Soto-Wright, the CEO of MoonPay, said, “This milestone is not just about compliance; it’s about solidifying the crypto industry’s place in the global financial system. We’re eager to deepen collaborations with regulators, businesses, and users as we shape the future of digital payments.”

Soto sees this approval as a significant achievement and believes that it shows the company’s dedication to proactive regulatory engagement and its mission to bridge traditional finance with the crypto ecosystem.

The MiCA framework, introduced by the European Union, establishes a unified regulatory environment for digital assets. It aims to prioritize consumer protection, transparency, and market integrity as well as create a solid foundation for the growing crypto industry.

The European Securities and Markets Authority (ESMA) stated that the MiCA guidance prevents market abuse. The new framework enhances cross-border regulatory coordination to strengthen the stability and integrity of Europe’s burgeoning crypto market.

MoonPay hopes to take advantage of this legislative clarity to increase its presence in Europe as the framework goes into full effect today, December 30. The crypto payment provider also plans to explore cutting-edge digital asset applications and payment methods while maintaining compliance with current rules and regulations.