Crypto.com gets EU node with MiCA license
Crypto.com has received master approval to operate throughout the European Union under the Crypto-Assets (MiCA) license, the cryptocurrency exchange said.
Once finalized, the MiCA license will allow Crypto.com to operate within a unified regulatory framework across EU countries. It is the first international exchange to receive this designation, Crypto.com said on January 17 without specifying which jurisdiction it was licensed.
The Crypto.com MCA will “bring transparency, transparency, and a more streamlined feel to our industry within the EU, all of which will increase trust in the crypto sector,” said Eric Anziani, president of Crypto.com. and Chief Operating Officer.
Key components of MiCA. Source: Cointelegraph
Related: What are the Markets in Crypto-Assets (MiCA)?
Integrated regulatory framework
The MCA is an EU regulatory framework designed to standardize and regulate the crypto market. It covers everything from crypto asset regulation and provider requirements to legal responsibilities.
The MCA was proposed in September 2020, adopted in May 2023 and fully implemented in December 2024. In January, Börse Stuttgart Digital Protection became Germany's first crypto asset service provider to receive a full license under the MCA.
Some major cryptocurrency companies, including Tether, the issuer of the stablecoin USDt (USDT), may struggle to maintain operations in the EU as the MCA is in place.
US crypto exchange Coinbase delisted USDT in mid-December, citing US MCA compliance.
But the stablecoin continues to trade in the EU, with many exchanges seemingly waiting for more clarity from European authorities on whether USDT will be in line with MiCA. EU regulators have not clarified whether USDt is subject to MiCA.
International expansion
Crypto.com is expanding significantly in major markets including the United States.
In December, the exchange launched an institutional cryptocurrency custody service in the US as part of a broader plan to expand its presence in the country.
In October, Crypto.com acquired US Securities and Exchange Commission-registered broker-dealer Watchdog Capital to expand its US footprint.
In the year Founded in 2016, Crypto.com is said to have over 100 million users worldwide.
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