 Member States.){kind=link}
Crypto.com confirmed via an X post on February 12th that from the platform can now provide crypto asset services across borders to all EEA (European Economic Area) Member States.
The platform added, “We look forward to raising our brand profile in vital European markets and attracting more customers to our industry-leading platform.”
The move comes after the platform secured a MiCA license to operate in the region.
What Is The MiCA Law?
A framework created by the European Union to regulate cryptocurrency markets, the Markets in Crypto-Assets (MiCA) law offers financial stability, investor protection, and legal certainty.
Crypto companies need to have a MiCA license in order to operate in the EU, allowing them to provide services in all of the member states. Multiple national permits are no longer required as a result.
Companies need to achieve requirements such operational resilience, consumer protection measures, transparency, adequate capital, and compliance with AML and CTF legislation in order to receive the license.
Getting a MiCA license makes it easier for cryptocurrency companies to grow within the EU by boosting credibility, encouraging innovation, and offering regulatory clarity.
Crypto.com’s MiCA License Approval
In order to provide its services within the European Economic Area (EEA) under a single regulatory framework, Crypto.com obtained a Markets in Crypto-Assets (MiCA) license from the Malta Financial Services Authority (MFSA).
With this license, Crypto.com can now offer a wide range of bitcoin services across the European Economic Area (EEA), improving industry transparency and consumer safety.
Crypto.com has delisted some non-compliant assets for European consumers in accordance with MiCA legislation. These assets include Tether’s USDT, Dai, Wrapped Bitcoin, Pax Gold, Pax Dollar, and its derivative tokens.
Through the development of trust and the facilitation of smooth operations throughout the region, this calculated action establishes Crypto.com as one of Europe’s top compliant crypto platforms.
Read Also: Crypto.com Delists Tether USDT, WBTC, DAI & Many More To Abide By MiCA Regulations
Crypto.com’s EEA Expansion Comes as Europe Positions Itself For Future Crypto Growth
Over the upcoming years, the European cryptocurrency market is anticipated to grow significantly due to rising institutional interest, more transparent regulations, and technological advancements.
It is anticipated that the implementation of the Markets in Crypto-Assets (MiCA) law in 2025 will promote a more transparent and safe environment, drawing in more companies and investors.
Europe is establishing itself as a global center for crypto innovation with more lucid regulations; nations like Malta, Switzerland, and Germany are already at the forefront of crypto acceptance.
This growth will also be aided by the increasing interest in blockchain technology and decentralized finance (DeFi). A wider range of services, greater market maturity, and wider popular use are all anticipated in Europe’s cryptocurrency landscape as governments and financial institutions embrace digital currencies.
Also Read: Bitpanda Crypto Exchange Secures MiCA License From German Regulator BaFin