Webull EU Secures MiCA Authorisation as EU Targets Post-Regulation Gaps

Webull EU has secured approval under the Markets in Crypto-Assets (MiCA) regulation, granted by the Dutch regulator.

This authorisation represents one of the first major approvals following the conclusion of the grandfathering period on 1 July, which allowed firms previously holding national Crypto Asset Service Provider (CASP) registrations to transition into the harmonised EU framework.

The firm intends to leverage the licence to launch crypto operations and custody services in late 2026.

Andries van Luijk, CEO of Webull Securities (Europe), characterised the move as a significant milestone in the group’s continental ambitions, stating that the broker remains committed to providing "secure and compliant access to digital assets" under the EU’s comprehensive rulebook.

The Webull Group, which already operates a zero-commission model in the US and a retail brokerage in the UK, established its EU foothold in 2025 via the Netherlands. The expansion comes amidst robust top-line growth; in the first quarter of 2026, the Group reported revenues of US$159.9 million, a 36% year-on-year increase.

While rising client assets and trading volumes supported this growth, the firm reported a net loss for the period, attributed to heightened expansionary spending.

The MiCA Landscape and Regulatory Friction

The implementation of MiCA has significantly consolidated the European digital asset market, with the licensed population now hovering around 200 firms.

The transition has proven difficult for some industry giants; notably, Binance missed the grandfathering deadline after failing to secure a licence from the Greek regulator.

Brussels has already launched a formal review to gather feedback from industry participants on the framework's functioning.

A point of contention is the regulatory bifurcation regarding stablecoins. Under MiCA, stablecoins are classified as e-money, requiring firms to secure an Electronic Money Institution (EMI) licence under the direct purview of central banks.

Looking Beyond the Current Rulebook

The European Parliament is also urging the European Commission to address emerging gaps not fully covered by the initial MiCA text.

The key areas are Decentralised Finance (DeFi) and staking. DeFi lending and borrowing have raised alarms regarding "shadow-banking" risks, while staking and yield products are being scrutinised for disclosure and consumer protection failings.

Furthermore, the legal status of NFTs and tokenised financial assets remains a point of friction, sitting close to the traditional securities perimeter.

Parliament has warned that if individual member states develop bespoke rules for DeFi or NFTs, the single market framework MiCA was designed to establish could be undermined by renewed fragmentation.