Crypto.com has received preliminary approval for a Markets in Crypto Assets (MiCA) licence from European Union regulators.

This makes it one of the first major cryptocurrency platforms to achieve this milestone.

The full regulatory approval for the MiCA licence will allow Crypto.com to offer its services across the EU under a new, unified regulatory framework.

The MiCA regulations was designed to increase transparency and consumer protection in the cryptocurrency market.

Eric Anziani, President and COO of Crypto.com, said,

“We have always been fully supportive of MiCA and strongly believe it will bring clarity, transparency, and establish a more streamlined sentiment towards the regulation of our industry across the EU, all of which adds to the building confidence in the crypto sector.

We have consistently shown our commitment to responsible expansion across the EU, a growing and vital hub for crypto investment, and we look forward to working with the Union to ensure we continue to grow in a compliant manner under the MiCA regulation.”

Founded in 2016, Crypto.com serves over 100 million customers globally by providing a platform for buying, selling, and trading cryptocurrencies.

The company has been actively pursuing licenses and approvals in various jurisdictions.

This article first appeared on Fintech News Singapore. 

Featured image credit: Edited from Freepik