- The license approval follows the latest updates the exchange made to its stablecoin offerings to meet MiCA regulations.
- The European Union is said to be the Global hub for virtual asset innovation, influenced by MiCA’s clear and harmonized rules.
Bitstamp has now become one of the first exchanges to function across Europe’s new crypto framework after securing the MiCA license.
The exchange has received a crypto asset service provider license to function in Luxembourg under the new MiCA rules of the European Union. After this, Bitstamp will be eligible to expand its crypto services across Europe.
The Commission de surveillance secteur financier of Luxembourg has granted the licence. Now, the exchange can offer trading, custody, and order execution services for crypto across the European Union, as per the blog post of the exchange.
The post also mentioned that the license approval follows the latest updates the exchange made to its stablecoin offerings to meet MiCA regulations; however, further details about the same were not provided.
More New Licenses in Line-Up
Bitstamp can now also leverage the European passport system to widen services across the European Union. The firm also mentioned that it will continue to work in the direction of getting new licenses in prime jurisdictions and widen its product offerings for both retail and institutional investors.
Within a year, the exchange has also secured the permission to function a multilateral trading facility under the MiFID framework. The MiFID regulation governs the traditional financial markets across the European Union, and it encompasses stocks and derivatives.
The rule of the regulatory body applies to different trading platforms, investment managers, and banks. The blog post of the platform also mentions that the license highlights a commitment to ensure the highest security standard, along with its strong and transparent KYC processes.
This week, the crypto custodian, BitGo, has also obtained the mica licence from the German Federal Financial Supervisory Authority, which has permitted it to offer crypto services in Europe.
The European Union is said to be the Global hub for virtual asset innovation, influenced by MiCA’s clear and harmonized rules, and the license would help the platform to increase its institutional participation and trust in the market.
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