Digital asset exchange Crypto.com obtains in-principle approval for a MiCA license

The Singapore-based digital asset exchange Crypto.com obtained in-principle approval for a Markets in Crypto Assets (MiCA) license, according to a Friday company release .

Though the exchange doesn't appear to have its full license yet, obtaining final approval will allow Crypto.com to offer services within the European Union after MiCA rules went into effect in late December 2024.

"We have always been fully supportive of MiCA and strongly believe it will bring clarity, transparency and establish a more streamlined sentiment towards the regulation of our industry across the EU, all of which adds to the building confidence in the crypto sector,” said Crypto.com President and COO Eric Anziani in a statement. "We look forward to working with the Union to ensure we continue to grow in a compliant manner under the MiCA regulation."

First passed in April 2023, MiCA creates a robust digital asset regulatory framework in the EU, allowing firms with a MiCA license in one EU member state to operate across the entire EU region.

Crypto.com brought in $324.4 billion in trading volume in the month of December, comprising the firm's largest monthly trading volume to date, The Block's Data Dashboard shows.