Nikolas Sargeant
The Dutch Authority for the Financial Markets (AFM) has granted Markets in Crypto Assets (MiCA) licenses to four digital asset firms, enabling them to operate across the European Union. The companies include:
- MoonPay (crypto platform)
- BitStaete (digital asset management)
- ZBD (bitcoin lightning FinTech)
- Hidden Road (prime brokerage and clearing)
MiCA, which sets a comprehensive regulatory framework for the crypto industry, requires companies to obtain a Crypto Asset Service Provider (CASP) license from one EU member state to operate throughout the bloc. The European Union's December 30 deadline for member states to implement MiCA was met by the Netherlands, positioning these companies among the first to gain approval under the new rules.
In related news, Socios.com, a soccer fan engagement platform, received authorization from the Malta Financial Services Authority (MFSA) for a Virtual Financial Assets Act (VFAA) license, while the UK added GSR Markets to its crypto register by the end of 2024.
MiCA Regulations Gaining Ground
As the European MiCA regulations take hold, many cryptocurrency enterprises are moving forward and taking advantage of regulatory clarity. For example, Binance introduced a Euro-pegged stablecoin that is mean to comply with MiCA regulations.
Every country was supposed to have their regulations approved by the end of 2024. However, not all countries were able to do so. Nonetheless, many countries have moved forward and begun certifying cryptocurrency operations.
