OKX Crypto Platforms Receive EU Approval
The approvals demonstrate the companies' commitment to compliance and regulation, and are expected to drive growth and innovation in the European crypto market, with a focus on secure and reliable services for customers.
eToro, Crypto.com, and Bitpanda have obtained regulatory approvals in the European Union, enabling them to provide cryptocurrency trading and custody services across the region, following the implementation of the Markets in Crypto-Assets (MiCA) framework.
The MiCA regulation, which took full effect in December, establishes a standardized legal framework for crypto services across the 27-nation EU trading bloc. Crypto.com has obtained a MiCA license, allowing it to provide cross-border crypto services across all EEA Member States, adding to its existing approvals in the UK, Singapore, Dubai, US, and Australia. This expansion is seen as a significant milestone in the company's global growth strategy.
Bitpanda has received approval from the UK's FCA, enabling it to operate in the UK and offer services like staking, savings plans, and crypto indices. The company plans to reopen its UK office and expand its team, further solidifying its presence in the European market. Both Crypto.com and Bitpanda are committed to being the most compliant and regulated crypto platforms globally, with a focus on providing secure and reliable services to their customers.
The regulatory approvals mark a significant development in the European crypto landscape, providing a clear framework for companies to operate and expand their services. As the crypto industry continues to evolve, it is likely that we will see further growth and innovation in the region, driven by the increased regulatory clarity provided by the MiCA framework.