Bitvavo, the premier EUR spot exchange, has successfully secured a license under the EU’s Markets in Crypto Assets (MiCA) regulation. This development empowers the crypto exchange to extend its services to all 27 European Union member nations. The license was provided by the Dutch Authority for the Financial Markets (AFM).
“We greatly appreciate our effective collaboration with the AFM throughout this journey,” said Jeetan Patel, Chief Risk Officer at Bitvavo. “The process has been smooth.”
Bitvavo currently stands as the world’s largest EUR spot exchange. The crypto exchange now joins the ranks of Coinbase and Kraken, both of which have also recently obtained a MiCA license. Coinbase received its license from Luxembourg, while Kraken got its approval from Ireland. The Netherlands has similarly granted MiCA licenses to MoonPay and three other crypto firms towards the end of 2024.
The MiCA regulation, which was fully implemented at the end of last year, furnishes a single, comprehensive regulatory framework for cryptocurrency companies across the European Union. “To ensure fair competition in Europe, it’s crucial that rules are consistently formulated and applied across all member states,” stated Mark Nuvelstijn, Bitvavo’s CEO. “This license provides clarity, assurance, and aids Bitvavo in achieving its goal – to emerge as Europe’s leading digital asset trading platform.”
Reports suggest that the cryptocurrency exchange Gemini is also nearing the final stages of obtaining MiCA approval from Malta, as previously reported by The Block.
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