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Crypto.com has become the first major global crypto exchange to secure an in-principle Markets in Crypto-Assets (MiCA) license, which would allow them to operate in the EU.
“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 Eric Anziani, president and COO, Crypto.com.
“We have consistently shown our commitment to responsible expansion across the EU, a growing and vital hub for crypto investment, and we look forward to working with the Union to ensure we continue to grow in a compliant manner under the MiCA regulation,” Anziani added.
Entities operating within the EU’s crypto market must comply with MiCA's rules governing transparency, disclosure, and governance. This includes stricter anti-money laundering protocols and requirements for stablecoin issuers to hold sufficient reserves to safeguard consumers.
The MiCA framework, introduced by the European Union, aims to establish a comprehensive regulatory framework for digital assets, ensuring consumer protection, transparency, and market integrity.
Last month, MoonPay received approval under the MiCA regulation. The company’s license, granted by the Dutch Authority for the Financial Markets (AFM), was issued on December 30, 2024, making MoonPay one of the first companies to secure this coveted regulatory approval.
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“This approval is a testament to MoonPay’s proactive approach to regulation and our commitment to building a trusted bridge between the traditional financial world and the rapidly evolving crypto ecosystem,” said Ivan Soto-Wright, CEO and co-founder of MoonPay.
Recently, the Commodity Futures Trading Commission (CFTC) stated it was considering looking into Crypto.com for allowing investors to bet on major football games, including the Super Bowl.
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