Crypto.com Obtains In-Principle MiCA License

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

Although the exchange has not yet received its full license, obtaining the final approval will allow Crypto.com to offer services within the European Union once MiCA rules are implemented 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. “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 aims to create a robust regulatory framework for digital assets in the EU, enabling firms with a MiCA license in one EU member state to operate across the entire region.

In December, Crypto.com recorded $324.4 billion in trading volume, marking the firm’s largest monthly trading volume to date, according to The Block’s Data Dashboard.