Crypto.com and OKX Secure MiCA Licenses, Expanding Crypto Reach in Europe

Crypto exchanges are making significant strides under the EU’s Markets in Crypto Assets (MiCA) regulation, with OKX and Crypto.com becoming the latest platforms to secure full licensing.

Announced on January 27, 2025, the approvals represent a major breakthrough for these companies as they expand their operations across Europe.

OKX’s European CEO, Erald Ghoos, celebrated the milestone, describing it as a reflection of the industry’s maturity and growing acceptance. By leveraging its base in Malta, OKX plans to use MiCA’s passporting mechanism to offer its services across all 30 European Economic Area (EEA) member states, potentially reaching hundreds of millions of users. The passporting feature, unique to MiCA, allows licensed entities to operate seamlessly across the EU without additional regulatory approvals in each country.

Crypto.com also shared its success in obtaining an in-principle license earlier this month. President and COO Eric Anziani praised MiCA for bringing clarity and consistency to crypto regulation in the EU, fostering confidence and stability in the market. Anziani emphasized that a unified regulatory framework would benefit both investors and businesses, accelerating the industry’s growth.

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Meanwhile, Bitpanda joined the ranks of MiCA-compliant companies after receiving approval from Germany’s BaFin. These recent developments highlight the increasing number of platforms aligning with MiCA’s regulatory standards, joining early adopters such as Coinbase, Circle, and MoonPay.

The adoption of MiCA across Europe signals a new era for the crypto industry, where regulatory compliance and market expansion are paving the way for widespread adoption. With key players securing licenses, the stage is set for a more transparent and regulated crypto ecosystem in the EU.

Alexander Stefanov