Cryptocurrency exchange Crypto.com has been granted a license to operate under the European Union's new Markets in Crypto Assets (MiCA) regulations. This marks a significant development for both the exchange and the crypto industry as a whole.
MiCA's Impact
MiCA, which came into effect in late December, establishes a regulatory framework for crypto assets across the EU. While some leading crypto firms have faced challenges under MiCA, Crypto.com has embraced the regulations.
Crypto.com's Proactive Approach
The exchange has actively sought to improve its relationships with regulators around the world. In the US, for instance, Crypto.com addressed concerns raised by the SEC and expanded its offerings to include stocks, ETFs, and custody services. This week's pledge to donate to LA fire relief following a CFTC review further highlights Crypto.com's commitment to responsible engagement with regulatory bodies.
Looking Ahead
Crypto.com views the EU as a growing hub for the crypto industry and plans to leverage its MiCA license to expand its operations in the region. The exchange anticipates a long and collaborative relationship with European financial regulators.
January 2025, Cryptoniteuae