Digital asset exchange Crypto.com obtains in-principle approval for a MiCA license

Quick Take

  • Obtaining final approval will allow Crypto.com to offer services within the EU after MiCA rules went into effect in late December.

The Singapore-based digital asset exchange Crypto.com obtained in-principle approval for a Markets in Crypto Assets (MiCA) license, according to a Friday company release.

Though the exchange doesn't appear to have its full license yet, obtaining final approval will allow Crypto.com to offer services within the European Union after MiCA rules went into effect in late December 2024.

"We have always been fully supportive of MiCA and strongly believe it will bring clarity, transparency and establish a more streamlined sentiment towards the regulation of our industry across the EU, all of which adds to the building confidence in the crypto sector,” said Crypto.com President and COO Eric Anziani in a statement. "We look forward to working with the Union to ensure we continue to grow in a compliant manner under the MiCA regulation."

First passed in April 2023, MiCA creates a robust digital asset regulatory framework in the EU, allowing firms with a MiCA license in one EU member state to operate across the entire EU region.

Crypto.com brought in $324.4 billion in trading volume in the month of December, comprising the firm's largest monthly trading volume to date, The Block's Data Dashboard shows.


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© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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