Crypto.com, a popular cryptocurrency trading platform, has secured a Markets in Financial Instruments Directive (MiFID) license for traditional investment tools in the European Union.
Acquisition of MiFID License
Crypto.com acquired A.N. Allnew Investments Ltd., a Cyprus-based investment firm, earlier this year and received approval from Cyprus’s financial regulator, CySEC. The MiFID license allows users within the European Economic Area (EEA) to access derivatives on the Crypto.com platform.
Differences Between MiCA and MiFID
Europe is witnessing significant progress in regulatory clarity with both MiCA (market in crypto assets) and MiFID coming into effect. MiCA provides a framework for crypto assets, while MiFID permits crypto platforms to offer tools such as derivatives and stocks.
Crypto Market Development in Europe
The new MiFID license for Crypto.com comes as other crypto exchanges like Kraken and Bitstamp are also securing regulatory approvals in Europe. These developments reinforce the reputation of Europe as a hub for compliant crypto trading, especially as other regions strive to improve their regulatory policies.
The MiCA and MiFID licenses represent a step in the right direction for crypto exchanges, allowing them to operate with full legal backing and boosting user trust in the EU.
