According to Crypto.com, the MiCA license will allow the exchange to passport its services across the European Union. The company joins other crypto companies such as Circle, Borse Stuttgart Digital, MoonPay, and Coinbase to gain regulatory approval in the EU.
Crypto.com plans to expand its services and products in the European Union after receiving Significant Crypto Asset Market (MiCA) approval.
The exchange announced an important regulatory milestone through a news release on January 17th.
Crypto.com focuses on EU expansion
Having now secured an in-principle license from the EU's MiCA, Crypto.com is one of the first crypto service providers to achieve this milestone, inching closer to full regulatory approval.
The license will allow companies to operate across the 27-country European Trading Area. If approved, Crypto.com will be able to offer a wide range of crypto services across jurisdictions.
The European Union under a leadership framework to strengthen accounting and transparency in the industry. Commenting on the news, Eric Anziani, President and Chief Operating Officer of Crypto.com, said:
“We have always fully supported MiCA and strongly believe that it will bring clarity and transparency and establish a more rational sentiment towards the regulation of industry across the EU. Further increases confidence in the currency sector.
Since the passing of the Cryptocurrency Act 2023, companies have been working towards obtaining a crypto asset service provider license under MiCA.
Crypto.com joins several other platforms in securing MiCA licenses.
These include Boerse Stuttgart Digital, MoonPay, Circle, Coinbase, and more are some of the crypto companies that have successfully secured MiCA approval ahead of its rollout by regulators in the EU . Notably, the Comprehensive Crypto Rules became fully effective on December 30, 2024.
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