Crypto.com Secures In-Principle MiCA Approval, EU Expansion Ahead

Crypto.com, a Singapore-based digital asset exchange, has achieved a significant regulatory milestone by securing in-principle approval for a Markets in Crypto Assets (MiCA) license. The company announced the development on Friday, marking a key step toward expanding its operations across the European Union (EU).

While the final MiCA license is still pending, this approval positions Crypto.com to offer compliant services throughout the EU, aligning with MiCA regulations that came into effect in late December 2024. The new framework provides a unified regulatory standard for digital assets, simplifying operations for firms like Crypto.com that aim to serve the diverse European market.

MiCA: A Game-Changer?

The MiCA framework, first passed in April 2023, is a transformative step in digital asset regulation within the EU. It allows companies licensed in one member state to seamlessly operate across all EU countries, fostering a more cohesive and transparent regulatory environment.

Eric Anziani, President and COO of Crypto.com, expressed optimism about the regulatory clarity MiCA brings to the industry. “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,” Anziani said in a statement. He emphasized the company’s commitment to growing in compliance with MiCA standards, signaling its long-term focus on trust and stability.

This step comes as the crypto industry navigates heightened scrutiny and evolving regulations worldwide. By aligning with MiCA, Crypto.com not only secures its foothold in the EU market but also sets an example for regulatory collaboration.

Crypto.com Growth

Crypto.com’s regulatory progress coincides with a period of significant growth. The exchange recorded a staggering $324.4 billion in trading volume in December, its highest monthly volume to date, according to The Block’s Data Dashboard. This surge underscores the growing demand for digital asset services and the importance of a strong regulatory framework to support such expansion.

As Crypto.com moves closer to full MiCA licensing, the exchange is poised to become a dominant player in the global crypto market.