BCGAME - Free 5BTC Daily Bonus!- MiCA unifies rules for crypto assets in the European Union.
- Companies need CASP licenses to operate in the EU.
- Regulation aims for maturity, but increases costs for startups.
Four crypto companies including MoonPay, BitStaete, ZBD and Hidden Road have been granted Markets in Crypto Assets (MiCA) licenses by the Dutch Authority for Financial Markets (AFM). These licenses allow companies to operate in the 27 member countries of the European Union, under the new unified regulations for crypto assets.
🏆 achievement unlocked
✅ we've received approval under the Markets in Crypto-Assets (MiCA) regulation in The Netherlands
🌍 this enables MoonPay to innovate crypto payments across Europe!
🫡 2025 is going to be big pic.twitter.com/adLjntXhLo
— MoonPay 🟣 (@moonpay) December 30, 2024
MiCA, which came into full force on December 30, 2024, aims to standardize the regulatory environment for cryptocurrencies in the EU. Firms approved with a Certified Crypto Asset Service Provider (CASP) in a member country can operate across the European bloc. The regulation sets strict requirements, such as holding significant cash reserves in EU banks for stablecoin issuers.
Ivan Soto-Wright, CEO and co-founder of MoonPay, celebrated the achievement and highlighted the importance of regulation for the industry. “MiCA represents a pivotal moment for the digital assets sector in Europe, and we are proud to have collaborated with the AFM to be an early adopter of this new regulatory framework,” he said.
Among the licensed companies, MoonPay is a crypto payments platform, BitStaete focuses on digital asset management, ZBD offers fintech solutions based on bitcoin lightning, and Hidden Road acts as a broker and clearing services provider. All will be able to expand their operations within the unified European market.
While MiCA is widely seen as a step forward, some analysts warn of challenges for smaller companies. Requirements such as holding 30% of reserves in low-risk commercial banks in the EU could place a significant financial burden on startups and small businesses. This could lead to startups and small businesses seeking more favorable jurisdictions, such as the United Arab Emirates.
On the other hand, experts point out that regulation will bring maturity to the market. Dmitrij Radin, CTO of Fideum, said that in the long run, regulations like MiCA help attract more funds and users, although they will intensify oversight of platforms and retail investors.
The new EU regulation is already having an impact on other companies. For example, Socios.com has received authorization from the Malta Financial Services Authority (MFSA) to operate under a Class 3 Virtual Financial Assets license, cementing its position in the regulated market.
