MiCA framework unifies regulations for four major crypto exchanges
Four prominent cryptocurrency exchanges have recently obtained full licenses under the European Union's Markets in Crypto-Assets Regulation (MiCA), which became effective on December 30, 2024.
This regulation standardises the rules for crypto-asset service providers (CASPs) across the European Economic Area (EEA), aiming to create a cohesive regulatory environment.
Crypto.com announced on January 27 that its Malta entity received a MiCA license from the Malta Financial Services Authority (MFSA).
This license allows Crypto.com to passport its services across all 30 EEA member states, enhancing its ability to offer a wide range of crypto services under a unified regulatory framework.
The announcement follows the company's earlier in-principle approval for the license.
On the same day, OKX also secured a MiCA license through its Malta hub, enabling it to provide various trading services, including euro-based transactions for over 240 cryptocurrencies.
OKX aims to simplify digital asset trading across the EEA with features such as free euro deposits and localised language support.
Bitpanda, an Austrian fintech unicorn, received its MiCA license from Germany's Federal Financial Supervisory Authority (BaFin) on the same day, becoming the second CASP licensed by BaFin since MiCA's full implementation.
The first German CASP to obtain a MiCA license was Boerse Stuttgart Digital Custody, which was granted approval on January 17.
Cipollone emphasised that the MiCA framework addresses the need for regulatory clarity and consumer protection in the rapidly evolving crypto landscape.
As these exchanges adapt to MiCA regulations, they are expected to enhance their compliance measures and operational transparency.
This unified regulatory approach is seen as crucial for fostering innovation while ensuring market integrity within the European crypto sector.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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