Dutch crypto exchange Bitvavo has become the latest company in the digital asset space to secure a full license under the new Markets in Crypto-Assets Regulation (MiCA) of the European Union. This will allow it to expand its services across the bloc under a single regulatory framework.
New License for Bitvavo
The license was granted by the Dutch Authority for the Financial Markets (AFM), enabling Bitvavo to operate freely across all 27 EU member states, as well as Norway, Iceland, and Liechtenstein, eliminating the need for multiple national registrations.
Context and Significance of MiCA
The MiCA regulation, coming into effect in 2024, introduces uniform rules to a fragmented cryptocurrency market, tightening oversight while making it easier for compliant firms to operate across borders. Companies like Coinbase and Kraken have also secured licenses under MiCA, highlighting the increasing regulatory scrutiny in the cryptocurrency industry.
The Future of Crypto Exchanges in Europe
Bitvavo's Chief Risk Officer, Jeetan Patel, stated that the license is a significant milestone for the company and its users. He expressed optimism for continued collaboration with regulatory bodies and emphasized the importance of meeting the comprehensive MiCA requirements, which confirms Bitvavo's shift towards a more transparent and secure operation in the cryptocurrency market.
Obtaining the MiCA license opens new horizons for Bitvavo and other crypto exchanges in Europe, strengthening the sector's position within the new regulatory environment.
