The license additionally allows Crypto.com to function in the entire EEA space beneath a single regulatory regime. MiCA is a brand new EU regulation that’s purposed to extend transparency. It also needs to shield traders, and introduce constant guidelines for the operation of cryptocurrency companies.
Earlier this month, Crypto.com was granted a license in precept by MiCA. The ultimate clearance paves the way in which for the total suite of crypto providers on the continent; beneath the still-restrictive necessities inside the regulatory radar.
The attainment of a MiCA license is a deal-breaker within the trade. It ensures that Crypto.com can present good providers, will increase investor confidence, and furthers long-term progress of the sector. The rules make market entry simple since one doesn’t have to hunt totally different approvals on the stage of EU international locations.
This growth provides to Crypto.com’s rising listing of licenses obtained all over the world, together with these within the UK, Singapore, Dubai, and the US. Based in 2016, the corporate has served greater than 100 million customers to this point.
This comes on the heels of one other announcement concerning the firm: the launch of Crypto.com Trade for US-based traders. This additional establishes proof of its plans for regional growth.