Boerse Stuttgart Digital Custody has become Germany’s first crypto asset service provider to receive a full license under the European Union’s new Markets in Crypto-Assets Regulation (MiCA).
License Details
The license was granted on January 17 by Germany’s Federal Financial Supervisory Authority, known as BaFin. Bernd Stockmann, head of group communications at Boerse Stuttgart Group, confirmed the achievement in an email to Cointelegraph.
Purpose of License
Obtaining the license is part of the company's efforts to become a regulated infrastructure provider for banks, brokers, and asset managers.
Context and Reaction
The license approval comes over two weeks after the implementation of Europe’s MiCA, the world’s first comprehensive regulatory crypto framework, which went into full effect for crypto-asset service providers on December 30.
Thus, Boerse Stuttgart Digital Custody has become a pioneer in obtaining a European license for providing crypto services in Germany, opening new opportunities for the company's operations in Europe.
