Crypto.com Secures MiCA License Approval, Expanding EU-Wide Operations

Crypto.com has received in-principle approval for the Markets in Crypto-Assets (MiCA) license, paving the way for the cryptocurrency exchange to operate across the European Union (EU) under a unified regulatory framework.

According to CoinTelegraph on January 18, Crypto.com is preparing to offer services under MiCA’s comprehensive regulatory structure ahead of its final license approval. The exchange highlighted that it is the first global trading platform to achieve such recognition under MiCA, though the specific approving jurisdiction has not been disclosed.

Eric Anziani, President and COO of Crypto.com, stated, "MiCA brings clarity and transparency to the cryptocurrency industry while streamlining regulations across the EU. This will contribute significantly to building trust in the sector."

What is MiCA?

The MiCA framework, designed to standardize the EU’s cryptocurrency market, covers asset regulation, service provider requirements, and jurisdictional accountability. Initially proposed in September 2020 and adopted in May 2023, MiCA became fully effective in December 2024.

In January 2024, Boerse Stuttgart Digital Custody became the first German crypto asset service provider to receive a full license under MiCA.

Challenges for Compliance

Not all crypto firms have found it easy to comply with MiCA. For example, Tether, the issuer of stablecoin USDt, may face challenges adhering to the framework. In December 2024, Coinbase delisted USDt citing MiCA compliance concerns, although trading continues on other platforms. EU regulators have yet to issue a formal stance on USDt’s compliance with MiCA.

Crypto.com’s Global Expansion

Crypto.com continues to expand in key markets, including the U.S. In December 2022, it launched institutional crypto custody services in the U.S., and in October, it strengthened its presence by acquiring Watchdog Capital, an SEC-registered broker-dealer.

Founded in 2016, Crypto.com now boasts over 100 million users worldwide. With its MiCA license, the exchange is positioned to lead the EU crypto market under its standardized regulatory landscape, reinforcing its commitment to regulatory compliance and innovation.