Cryptocurrency exchanges OKX and Crypto.com have obtained full licenses under the EU’s Markets in Crypto-Assets Regulation (MiCA) as of January 27.
These licenses, granted by the Malta Financial Services Authority (MFSA), enable both companies to offer regulated cryptocurrency services throughout the European Economic Area (EEA).
MiCA introduces a “passporting” mechanism for licensed entities to operate across EU member states, streamlining cross-border crypto services. OKX plans to expand offerings for EEA users with OTC trading, spot trading, and automated bot trading. To enhance user experience, they will also add localized language options and customized displays on their website and mobile app.
Crypto.com, on the other hand, Crypto.com confirmed plans to roll out a diverse array of cryptocurrency services to EEA users, building on the region’s evolving regulatory environment.
Erald Ghoos, CEO of OKX Europe, stated that the license is crucial for enhancing the crypto industry in Europe, which he sees as a potential hub for blockchain and digital assets. Eric Anziani, president and COO of Crypto.com, praised the EU’s regulatory approach, noting that the MiCA license promotes operational efficiency and compliance and enables cross-border services.
Notably, Austrian fintech platform Bitpanda obtained its MiCA license on the same day, with CEO Eric Demuth emphasizing the need for consistent EU regulatory action to maintain the effectiveness of the legislative framework. He stated that this milestone sets a new standard in the crypto industry, allowing Bitpanda to provide secure investing services to over 450 million people and unlock significant growth potential.
Similarly, Boerse Stuttgart Group, Germany’s largest stock exchange provider, has reached a significant milestone through its subsidiary, Boerse Stuttgart Digital Custody GmbH. The company has become Germany’s first crypto asset service provider to obtain an EU-wide license under the Markets in Crypto-Assets (MiCA) regulation. This achievement further establishes Boerse Stuttgart Digital Custody as a leading regulated infrastructure provider for European financial institutions.
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