CoinShares, a digital asset firm, has become the first in continental Europe to receive a Markets in Crypto-Assets (MiCA) license. This milestone opens up new avenues for managing cryptocurrency portfolios within the European Union.
Acquisition of MiCA License
The French branch of CoinShares Asset Management has been authorized as the first asset management firm under MiCA. This enables the company to manage crypto-related portfolios and provide advice on crypto assets across the European Union.
What is a MiCA License
A MiCA license allows companies to legally offer services related to cryptocurrencies, such as managing investment portfolios and providing advice. To retain this license, companies must comply with strict rules for investor protection, transparency, and financial stability.
Reaction from CoinShares CEO
CoinShares Co-Founder and CEO, Jean-Marie Mognetti, regards the AMF authorization as a pivotal milestone for the European digital asset industry. "With MiCA, we now have a clear, harmonised structure across the EU, and CoinShares is proud to be the first in continental Europe to meet that standard as a fully regulated asset manager," said Mognetti.
The MiCA license represents a significant development for CoinShares, enabling the firm to expand its operations in the cryptocurrency asset space across EU member countries.
