🔥 Dutch AFM Grants MiCA Licenses to 4 Digital Asset Firms
posted 6 Jan 2025
Four digital asset companies have obtained Markets in Crypto Assets (MiCA) licenses in the Netherlands, enabling them to operate seamlessly across all 27 EU member states. This milestone marks a key step toward a unified regulatory framework for Europe’s crypto industry.
The Dutch Authority for the Financial Markets (AFM) has issued MiCA licenses to MoonPay, a crypto platform; BitStaete, a digital asset management firm; ZBD, a fintech company using the Lightning Network; Hidden Road, a lending network for institutional clients. These licenses were officially documented in a report published on December 30.
MiCA is a comprehensive regulatory framework for the crypto industry that requires businesses to obtain a Crypto Asset Service Provider (CASP) license in one EU member state. This license allows companies to operate across the union, fostering market standardization and building trust in digital assets.
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,said Ivan Soto-Wright, CEO and co-founder of MoonPay, in a statement quoted by Coindesk.
Ivan Soto-Wright, CEO and Co-Founder of MoonPay. Source: businessinsider.com
The European Union set a December 30 deadline for implementing MiCA regulations. However, some countries, including Ireland, Belgium, Italy, Poland, Portugal, Luxembourg, and Romania, have encountered difficulties meeting this requirement. These challenges underscore the complexity of adapting comprehensive crypto regulations across diverse jurisdictions.
At the same time, the Malta Financial Services Authority granted Socios.com, a fan engagement platform, a Class 3 Virtual Financial Assets Act (VFAA) license. This license allows the company to operate as a regulated provider of virtual financial asset services under Maltese law.
In the UK, crypto regulation is progressing in parallel with the EU’s approach. At the end of 2024, GSR Markets, a cryptocurrency trading firm, was added to the UK’s crypto company register, reaffirming the country’s commitment to establishing a sustainable regulatory framework for digital assets.
The issuance of MiCA licenses in the Netherlands demonstrates the EU’s dedication to standardizing and regulating the cryptocurrency industry, enhancing trust and fostering innovation across member states.
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