Four Digital Assets Companies Secure MiCA Licenses in the Netherlands
Four digital assets companies have successfully obtained Markets in Crypto Assets (MiCA) licenses in the Netherlands, allowing them to operate throughout the entire 27-member European Union. These companies are crypto platform MoonPay, digital asset management firm BitStaetebitcoin lightning FinTech ZBD, and prime brokerage and clearing company Hidden Road. They received their highly sought-after Crypto Asset Service Providers (CASP) licenses from the Dutch Authority for the Financial Markets (AFM).
What is MiCA?
MiCA is a customized regulatory framework specifically designed for crypto companies. It mandates that firms obtain a CASP license from one member state, enabling them to conduct business across the entire European Union. The European Union established a December 30th deadline for its member states to implement MiCA; however, not all nations met this requirement.
Significance of MiCA for the European Digital Asset Industry
Ivan Soto-Wright, CEO and co-founder of MoonPay, stated that “MiCA represents a pivotal moment for the European digital asset industry.” By working cooperatively with the Dutch AFM, these four companies were among the first to adopt this new regulatory framework. This development demonstrates how crucial it is for businesses operating within the European Union’s borders to comply with MiCA regulations moving forward.
Source: Coindesk.com
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