OKX and Crypto.com Receive Full MiCA Licenses
OKX and Crypto.com have recently obtained full licenses under the EU’s Markets in Crypto Assets (MiCA) regulation, marking a significant milestone in the crypto industry.
Key Highlights:
- OKX described the MiCA license as a “major milestone” for the platform.
- Crypto.com also received an in-principle MiCA license earlier this month.
- The EU officially implemented the MiCA regulations on December 20, 2024.
OKX Secures MiCA License
OKX, a prominent crypto exchange, expressed its excitement about receiving the full MiCA license. Erald Ghoos, Europe CEO of OKX, emphasized the significance of this achievement, stating that it demonstrates the industry’s growth and mass adoption on a large scale.
Ghoos further mentioned that OKX will now be able to offer its crypto products and services to over 400 million individuals across Europe through its hub in Malta. The platform plans to passport its MiCA license to all 30 EEA member states in the near future, enabling seamless operations under a unified regulatory framework.
Crypto.com’s MiCA License Approval
Crypto.com also announced the receipt of a full MiCA license, showcasing its commitment to regulatory compliance and transparency in the crypto sector. The company had previously received an in-principle license, highlighting its proactive approach towards meeting regulatory standards.
Eric Anziani, president and COO of Crypto.com, expressed support for the MiCA regulations, emphasizing the importance of clarity and transparency in shaping the industry’s future within the EU.
Industry Adoption of MiCA Regulations
In addition to OKX and Crypto.com, Bitpanda also secured a full MiCA license from German regulator BaFin. These developments reflect a growing trend among crypto companies to comply with regulatory frameworks and enhance industry standards.
Other notable organizations, such as Boerse Stuttgart Digital, Circle, Coinbase, and MoonPay, have also successfully obtained MiCA approval, underscoring the industry-wide acceptance of the new regulations.
The comprehensive MiCA rules officially came into effect on December 30, 2024, signaling a new era of regulation and compliance for the crypto market.