MoonPay has been approved to operate as a licensed crypto business in the Netherlands under the European Union’s Markets in Crypto Assets (MiCA) law.

In a statement on December 30, it was announced that MoonPay has received a license from the Dutch Financial Markets Authority in compliance with the MiCA regulations. This regulatory framework will come into full force for crypto asset service providers operating in the EU as of December 30 after it is adopted in 2023.

MoonPay will continue to offer fiat-to-crypto and crypto-to-fiat transactions under a Dutch license. CEO Ivan Soto-Wright described this approval as an important step in solidifying the role of the crypto industry in the global economy.

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