Crypto.com gets EU nod on MiCA license
Analysis
Price Impact
LowThe news focuses on crypto.com receiving a mica license, indirectly impacting usdt as it was previously delisted by coinbase due to mica compliance concerns. the overall impact on usdt's price is likely to be low, as the news doesn't directly address usdt's compliance status.
Trustworthiness
HighThe source is a reputable news outlet reporting on a significant regulatory development. the information is verifiable through official announcements.
Price Direction
NeutralWhile the news might bring some short-term uncertainty, the long-term impact on usdt's price is unclear. the lack of clarity regarding usdt's mica compliance could cause volatility but not necessarily a strong directional movement.
Time Effect
ShortThe immediate effect is likely to be short-lived as the market digests the news and assesses the implications for usdt. the longer-term impact depends on further regulatory clarifications.
Original Article:
Article Content:
Alex O’Donnell 4 minutes ago Crypto.com gets EU nod on MiCA license Once finalized, the license will let Crypto.com operate across the EU under a unified regulatory framework. 37 Total views Listen to article 0:00 News COINTELEGRAPH IN YOUR SOCIAL FEED Follow our Subscribe on Crypto.com has secured in-principal approval to operate across the European Union under a Markets in Crypto-Assets (MiCA) license, the cryptocurrency exchange said. Once finalized, the MiCA license will enable Crypto.com to operate in EU countries under a unified regulatory framework. It is the first global exchange to receive this designation, Crypto.com said on Jan. 17 without specifying which jurisdiction granted the license. Crypto.com claims MiCA “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, Crypto.com’s president and chief operating officer. Key elements of MiCA. Source: Cointelegraph Related: What is Markets in Crypto-Assets (MiCA)? Unified regulatory framework MiCA is the EU’s regulatory framework designed to standardize and regulate the crypto market. It covers everything from crypto asset regulation and provider requirements to jurisdictional responsibilities. MiCA was proposed in September 2020, adopted in May 2023, and became fully enforceable in December 2024. In January, Boerse Stuttgart Digital Custody became Germany’s first crypto asset service provider to receive a full license under MiCA. Some major cryptocurrency companies, including Tether, the issuer of stablecoin USDt ( USDT ), may struggle to maintain operations in the EU now that MiCA is in effect. US crypto exchange Coinbase delisted USDT in mid-December, citing compliance with the EU’s MiCA. However, the stablecoin has continued trading across the EU, with many exchanges apparently awaiting more clarity from European authorities on USDT’s compliance with MiCA. EU regulators have not said whether USDt is compliant with MiCA. Global expansion Crypto.com has been aggressively expanding in major markets, including in the United States. In December, the exchange launched an institutional cryptocurrency custody service in the US as part of a broader plan to expand its presence in the country. In October, Crypto.com bought Watchdog Capital , a broker-dealer registered with the US Securities and Exchange Commission, in a bid to expand its US footprint. Founded in 2016, Crypto.com is said to have more than 100 million users worldwide. Magazine: Crypto market is ‘not playing ball’ so far in 2025: Jason Pizzino, X Hall of Flame # Blockchain # Business # Europe # Adoption # Germany # Cryptocurrency Exchange # European Union # MiCA # Crypto.com # Regulation Add reaction