Altcoins

Crypto.Com Expands Services To EU With A MiCA License

Crypto.com Secures an In-Principle MiCA's License to Expand Their Services in the EU, Boosting Market Confidence

By Arijit Mukherjee

Last Updated: Jan 20, 2025

Fact checked

By Akriti Seth

Crypto.Com Secures In Priciple MiCA License

Big news in the EU crypto space! On 18 January 2025, Crypto.com announced an in-principle approval for their MiCA license, making them the first major global crypto service provider to do so.

For some context, the MiCA framework, introduced by the European Union (EU), is about creating a solid regulatory structure for digital assets. It focuses on consumer protection, market transparency, and keeping everything legit.

Any crypto business in the EU will need to follow MiCA’s rules on transparency, disclosure, and governance. This includes tighter anti-money laundering measures and stricter requirements for stablecoin issuers to ensure they have enough reserves to protect consumers.

Commenting on the development, Eric Anziani, President and COO of Crypto.com said, “We’ve always backed MiCA, and we’re confident it will bring much-needed clarity and structure to the crypto space across the EU—boosting confidence in the industry.”

Back in 2021, Crypto.com had secured a Class 3 Virtual Financial Assets (VFA) License from the MFSA, allowing them to execute orders, offer custodian services, and trade on their own account. They also got in-principle approval for a Financial Institution License from the MFSA.

The company has also extended its partnership with Formula 1 through 2030.

ExploreCrypto.com And Dubai Islamic Bank Partner To Expand Across UAE And GCC

Institutions Adapt To EU’s Growing Crypto Affinity

In the EU’s increasingly digital world, major institutions are facing a critical question: how can it adapt to the growing influence of crypto-assets and the digital transformation of value?

Cryptos, public ledgers, and tokenized assets have become big in recent years, pushing the boundaries of traditional financial systems. Their rapid rise in the creator economy, day-to-day transactions, and asset management is catching the attention of regulators, tech companies, and financial institutions alike.

For banks, the stakes are high. Some have long dismissed or rejected these new currencies and networks, but others are diving right into the crypto ecosystem to diversify their services. Companies like Revolut, N26, Deutsche Bank, and Société Générale are offering crypto services to both individuals and institutions.

As crypto and digital assets continue to grow, it’s clear that we’re seeing a major paradigm shift. With blockchain tech maturing, crypto assets are becoming key players in the global financial infrastructure.

Big names like BlackRock and Société Générale are already embracing tokenization and digital currencies, and many other financial institutions are exploring how to build services around crypto technologies.

ExploreEU Crypto Policy: What To Expect In 2025?

Crypto.Com And The Likes Under MiCa’s Regulatory Framework

Blockchain, digital assets, and crypto use has surged over the past decade. Regulators around the globe have been forced to decide: to regulate, or not to regulate?

Now that MiCA is here, the focus is shifting to its real-world impact. Businesses will need to navigate a complex web of compliance while balancing innovation with risk management. The merging of traditional finance with crypto-native firms is expected to grow, pushing institutionalization and consolidation even further.

MiCA is a huge step toward bringing regulatory clarity to the crypto space, but its stringent requirements mean regulators and industry players must work together. As the crypto landscape continues to evolve, Europe’s ability to encourage innovation while ensuring strong safeguards will play a key role in shaping the global digital economy.

ExploreMiCA-Compliant Stablecoins Dominate European Market. BTC-EUR Trading Pair Flourishes!

Disclaimer Icon
Disclaimer
Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

Free Bitcoin Crash Course

  • Enjoyed by over 100,000 students.
  • One email a day, 7 days in a row.
  • Short and educational, guaranteed!

Key Takeaways

  • Crypto.com has received in-principle approval for a European MiCA license
  • Crypto-assets are reshaping the financial sector, with banks diving into the ecosystem
  • MiCA’s regulatory framework will bring clarity but also complex compliance challenges

Why you can trust 99Bitcoins

10+ Years

Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.

90hr+

Weekly Research

100k+

Monthly readers

50+

Expert contributors

2000+

Crypto Projects Reviewed

Google News Icon
Follow 99Bitcoins on your Google News Feed
Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now!
Subscribe now
Back to top