BitGo Gains EU-Wide Approval to Serve Institutions Under New Crypto Rules
BitGo has received regulatory approval from Germany's BaFin, allowing it to expand its crypto custody services across all EU member states under the Markets in Crypto-Assets (MiCA) framework. This positions BitGo as one of the first U.S. digital asset firms recognized under MiCA, which aims to harmonize crypto regulations across the EU. The approval supports both crypto-native companies and traditional financial institutions. BitGo has established its EU headquarters in Frankfurt and has secured registrations in several countries, including Italy and Spain. MiCA, passed in April 2023, mandates registration with national regulators and imposes consumer protection and capital requirements. BitGo's success in Europe contrasts with challenges faced in the U.S., where it encountered regulatory issues in New York.
