Crypto.com has announced securing an in-principle Markets in Crypto-Assets (MiCA) license from the Malta Financial Services Authority (MFSA), becoming the first major global crypto asset service provider to achieve this milestone.

Full regulatory approval will enable Crypto.com to offer its wide range of crypto services throughout the EU under a streamlined framework, enhancing transparency in the industry.

Crypto.com Secures MiCA

"We have always been fully supportive of MiCA and strongly believe it will bring clarity, transparency, and establish a more streamlined sentiment towards the regulation of our industry across the EU, all of which adds to the building confidence in the crypto sector," said Eric Anziani, President and COO, Crypto.com.

Previously, in 2021, Crypto.com obtained a Class 3 Virtual Financial Assets (VFA) License from the MFSA, allowing it to execute orders, offer custodian services, and trade on its own account. The company also received in-principle approval for a Financial Institution License from the MFSA.

Meanwhile, Crypto.com has extended its partnership with Formula 1 until 2030, building on their 2021 collaboration to drive mutual growth. The partnership has contributed to Formula 1’s expansion, including a cumulative TV audience of 1.5 billion, 750 million global fans, and 96 million social media followers, as reported by Finance Magnates.

BOOMProud to share that https://t.co/lS6nno3iDC is the first major global crypto asset service provider to secure an in-principle MiCA licence. 🚀All the details 👇https://t.co/Q5aLDxpU7l

— Steve | Crypto.com (@skalifowitz) January 17, 2025

Prioritizing Compliance with MiCA Regulation

Founded in 2016, Crypto.com serves over 100 million customers globally and is known for its focus on regulatory compliance, security, and privacy, according to the firm.

"We have consistently shown our commitment to responsible expansion across the EU, a growing and vital hub for crypto investment, and we look forward to working with the Union to ensure we continue to grow in a compliant manner under the MiCA regulation," Anziani added.

This article was written by Tareq Sikder at www.financemagnates.com.