Four Digital Assets Companies Secure MiCA Licenses in the Netherlands
Four digital assets companies have just secured Markets in Crypto Assets (MiCA) licenses in the Netherlands, allowing them to operate across the entire 27-nation European Union. This is a significant milestone for these companies as they navigate the evolving regulatory landscape in the crypto industry.
Companies Granted MiCA Licenses
The companies that obtained the coveted MiCA licenses from the Dutch Authority for the Financial Markets (AFM) are:
- Crypto platform MoonPay
- Digital asset management company BitStaete
- Bitcoin lightning FinTech ZBD
- Prime brokerage and clearing company Hidden Road
These licenses will enable them to provide crypto asset services in accordance with the MiCA regulations, opening up opportunities for them to expand their operations within the EU.
Significance of MiCA
Markets in Crypto Assets (MiCA) is a specialized regulatory framework for crypto companies operating within the European Union. It requires firms to obtain a Crypto Asset Service Provider (CASP) license from a member state, allowing them to conduct business across the entire EU.
The implementation of MiCA by the EU member states signifies a pivotal moment for the European digital asset industry, as it brings clarity and consistency to the regulatory environment for crypto companies.
Industry Response
Ivan Soto-Wright, CEO and co-founder of MoonPay, expressed his pride in being among the first companies to embrace the MiCA regulatory framework. He stated, “MiCA represents a pivotal moment for the European digital asset industry, and we’re proud to have worked collaboratively with the Dutch AFM to be among the first to embrace this new regulatory framework.”
Other Regulatory Approvals
Additionally, fan engagement platform Socios.com announced that it has received authorization from the Malta Financial Services Authority (MFSA) for a class 3 Virtual Financial Assets Act (VFAA) license. This approval allows Socios.com to operate as a regulated Virtual Financial Asset service provider.
Meanwhile, in the United Kingdom, crypto trading firm GSR Markets was added to the crypto register at the end of 2024, demonstrating the country’s commitment to regulating the crypto industry.