Crypto.com gets EU nod on MiCA license
Crypto.com has received in-principal approval for a Markets in Crypto-Assets (MiCA) license, allowing it to operate across the European Union under a unified regulatory framework. This makes Crypto.com the first global exchange to obtain this designation. The MiCA framework aims to standardize crypto market regulations, covering asset regulation, provider requirements, and jurisdictional responsibilities. MiCA was proposed in September 2020, adopted in May 2023, and will be fully enforceable by December 2024. Some cryptocurrency companies, including Tether, may face challenges operating in the EU under MiCA. US exchange Coinbase delisted Tether's USDt due to compliance concerns, although USDt continues trading in the EU as exchanges await regulatory clarity. Crypto.com is expanding aggressively, launching an institutional custody service in the US and acquiring Watchdog Capital to enhance its presence. Founded in 2016, Crypto.com has over 100 million users globally.
