MoonPay has become the first platform approved to operate under MiCA in Europe, allowing the company to expand its services across the continent.
MiCA Approval for MoonPay
MoonPay secured its license from the Netherlands’ Authority for the Financial Markets (AFM), allowing it to provide services related to digital asset payments throughout Europe. Co-founder and CEO Ivan Soto-Wright emphasized the importance of this achievement as testament to their commitment to regulation and building a trusted bridge between traditional finance and the crypto world.
Impact on the Crypto Market
The MiCA approval has sparked much discussion in the market. MoonPay plans to use this legal clarity to grow its business in Europe and explore new ways of utilizing digital assets in compliance with evolving standards. Meanwhile, reports of a potential acquisition of crypto payment provider Helio Pay by MoonPay have surfaced.
MiCA and the Crypto Industry
New MiCA regulations are causing discussions across Europe. While companies like Tether have faced challenges, others like Kraken see opportunities for expansion. MiCA represents a significant milestone in the regulation of the European crypto market, requiring service providers to meet stringent standards for consumer protection.
By being the first platform to receive MiCA approval, MoonPay is paving the way for further integration of cryptocurrencies into the European financial system and setting an example for other companies in the industry.
