Bitvavo has officially received a Markets in Crypto-Assets (MiCA) license from the Dutch Authority for the Financial Markets (AFM), allowing it to operate across all 30 European Economic Area (EEA) countries under a unified regulatory framework.
MiCA License and Its Significance
The MiCA license is part of the EU's legislation aimed at creating unified standards for crypto companies operating within the region. Until now, Bitvavo had to register separately in countries like France, Austria, Italy, and Spain. With the MiCA license, the company can now serve customers across all EEA nations without going through individual licensing.
Advantages for Users and Institutions
Through the MiCA passporting feature, Bitvavo will be able to deliver consistent services across Europe, making the onboarding process easier for users in any EEA country. The new license ensures a higher level of regulatory oversight, attracting both retail and institutional investors looking for a secure platform.
Market Positioning
With nearly two million users, Bitvavo now stands in a stronger position to compete with global exchanges, especially within the Eurozone. Bitvavo’s CEO, Mark Nuvelstijn, highlighted that the license boosts confidence in their platform and supports their mission to become the leading digital asset trading platform in Europe.
The acquisition of the MiCA license marks a significant step for Bitvavo, paving the way for new opportunities for expansion and strengthening the company's position in the European cryptocurrency market.
