Crypto.com grabs provisional MiCA license

Crypto.com has been granted a MiCA in-principle license, bringing the company one step closer to full regulatory compliance across the European Union.

The digital asset service provider has become one of the first major crypto exchanges to gain provisional approval under the EU crypto-asset markets.

The MiCA regime allows companies to issue passports for their services across the bloc’s 27 member states, provided they receive approval from local financial regulators.

Crypto.com January 17 statement did not specify which EU member state granted its MiCA in-principle license. However, the Singapore-based company likely got approval from French authorities, since its European regional headquarters is located in Paris.

Commenting on this development, Eric Anziani, President and COO of Crypto.com, said the company believes the MiCA guidelines will build confidence in the crypto industry by providing clear regulatory rules:

We have always fully supported MiCA and strongly believe that it will bring clarity, transparency and establish a more streamlined feeling towards the regulation of our industry across the EU, which contributes to building trust in the crypto industry.

Eric Anziani, President and COO of Crypto.com

Many companies are vying for MiCA licenses, which represent the first comprehensive regulatory regime for crypto in a major economic bloc. However, only a few companies have received approval as countries work to implement the rules in the bill.

Last week, Dutch regulators reward MiCA licenses four crypto startups, including MoonPay. Boerse Stuttgart became the first German company to get MiCA approval via BaFin. Meanwhile, Coinbase applied for a MiCA license in Ireland in 2023, and Circle bagged the inaugural green light from the EU’s MiCA last year.