Singapore-based cryptocurrency exchange company Crypto.com said last Friday it has received in-principle approval of markets in crypto assets (MiCA) license.
The MiCA license will enable Crypto.com to passport services across the European Union (EU) under the new regulatory framework, the firm said in a statement.
Receiving full regulatory approval will allow the firm to provide its market-leading range of crypto services across the EU under a streamlined and robust framework bringing a significantly improved degree of transparency to the sector.
It noted that the firm has become the first major global crypto asset service provider to secure an in-principle MiCA license.
“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 Eric Anziani, President and Chief Operating Officer, Crypto.com.
“We have consistently shown our commitment to responsible expansion across the EU, a growing and vital hub for crypto investment, and we look forward to working with the union to ensure we continue to grow in a compliant manner under the MiCA regulation,” he added.
Founded in 2016, Crypto.com is used by more than 100 million customers worldwide.
The firm aims to accelerate the adoption of cryptocurrency through innovation.
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