- Crypto.com says the MiCA licence allows the exchange to passport its services across the European Union
- The firm joins other crypto companies in securing regulatory approval in the EU, including Circle, Borse Stuttgart Digital, MoonPay, and Coinbase
Crypto.com is set to expand its services and products in the European Union after obtaining approval from the Markets in Crypto Assets (MiCA) regulation.
The exchange announced the key regulatory milestone via a news release on January 17.
Crypto.com eyes EU expansion
Having now secured an in-principle license from MiCA in the EU, Crypto.com is edging closer to full regulatory approval becoming one of the first crypto service providers to achieve this milestone.
The license allows companies to operate across the European trading bloc consisting of 27 nations. Upon approval, Crypto.com will be able to offer a wide range of crypto services throughout the jurisdiction. Under the framework, it aims to enhance accountancy and transparency in the industry.
Commenting on the news, Eric Anziani, president and COO of Crypto.com, said:
“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 growing confidence in the crypto sector. “
Companies have been pushing towards attaining a crypto asset service provider license under MiCA since the 2023 crypto legislation was passed.
Crypto.com joins several other platforms in securing MiCA licences.
Boerse Stuttgart Digital, MoonPay, Circle, and Coinbase are some of the crypto companies to have successfully secured MiCA approval ahead of the regulatory rollout of MiCA in the EU. Notably, the comprehensive crypto rules came into full effect on December 30, 2024.