Dutch Regulator Certifies Four Crypto Companies
MoonPay, BitStaete, ZBD and Hidden Road have received MiCA licenses from the Dutch Financial Market Authority (AFM). Meanwhile, Socios.com has obtained a license in Malta.
The certification enables them to operate across the EU under the new regulatory framework.
More cryptocurrency companies are lining up to apply for MiCA licenses
this Cryptoasset Marketplace (MiCA) FrameworkTaking effect on December 30, it creates a unified rulebook for cryptocurrency companies in the EU. A Crypto Asset Service Provider (CASP) license issued by an EU member state allows companies to expand their services across the EU.
MoonPay is one of the first international companies The license was obtained in the Netherlands last week. Today, three other cryptocurrency firms have joined, including Dutch asset manager BitStaete.
The rest of the EU is still trying to meet the official deadline to adopt the MiCA regulations. Malta has also made progress.
Earlier today, Socios.com announced that it has received MiCA license approval from the Malta Financial Services Authority (MFSA). This designation enables the fan engagement platform to act as a regulated provider of virtual financial assets.
“Socios.com has received full regulatory approval from the Malta Financial Services Authority (MFSA). The MFSA approves the issuance of a Virtual Financial Assets Act (VFAA) Level 3 License to provide Virtual Financial Assets (VFA) services. Well-established regulation in Malta The framework is already highly consistent with MiCA regulation.” chili Announce on X (formerly Twitter).
While the EU advances its MiCA framework, the UK continues to refine its own approach to cryptocurrency regulation. this The FCA aims to finalize regulations By 2026, focus on stablecoins.
Additionally, Lithuania has become a hub for cryptocurrency companies aiming to comply with MiCA. Bitget is expanding its business Strengthen its presence in the region.
The exchange is seeking regulatory approvals in 15 countries simultaneously while operating under existing licenses across the EU.
Tether’s key hurdles
The launch of MiCA raises concerns about its potential impact Stablecoinespecially Tether’s USDT.
November, Coinbase announces restrictions on USDT Transactions within the EU comply with MiCA regulations. Other exchanges have since followed suit and plan to Tether stablecoin delisted in the area.
After MiCA came into effect, the market value of USDT dropped by US$2 billion. It briefly raised fears of a potential collapse.
However, analysts believe dismissed these concerns. There are some counter-arguments that MiCA will harm the EU crypto market because it excludes USDT, one of the largest liquidity providers in the global market.
“The majority of Tether’s liquidity comes from outside the region. Tether’s average daily trading volume is $44 billion, and its operations are largely unaffected by potential regional disruptions. Additionally, USDT’s presence on P2P platforms, DEXs Usage as well as holding in custodial wallets is still possible, meaning stablecoins are still legal in the EU,” WeFi head of growth Agne Linge told BeInCrypto.
Prepare for MiCA and Tether Stop issuing euro-denominated stablecoin (EURT). this Stablecoin The issuer remains focused on the Asian market where USDT trading volume dominates.
As more countries implement MiCA, its long-term impact on the cryptocurrency industry will become more apparent, especially in areas such as stablecoin regulation and cross-border operations.
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