MoonPay has received regulatory approval as MiCA compliant. Cryptocurrency payment platform has secured a license in the Netherlands.
Cryptocurrency payment platform MoonPay has secured a license under the European Union’s Crypto Asset Market Regulation.
MoonPay announced that the Dutch Authority for Financial Markets (AFM) has approved its application for registration under the MiCA Regulation. The license granted by the Dutch regulator allows MoonPay to offer its services and products across Europe in accordance with the guidance and regulations under MiCA.
Ivan Sotorite, co-founder and CEO of MoonPay, said in a statement: “This approval recognizes MoonPay’s proactive approach to regulation and the collaboration between the traditional financial world and the rapidly evolving crypto ecosystem. “This is a testament to our commitment to building trusted bridges between the two worlds.”
Deployment of MiCA
This platform milestone is key to MiCA’s growth by providing a unified regulatory and legal framework for crypto industry players in the EU.
The MiCA Regulations will be approved and adopted in 2023 and become fully effective on December 30, 2024. Several digital asset service providers are seeking to secure approval to continue offering services and products across the bloc.
“MiCA represents a pivotal moment for the European digital asset industry and we are proud to work with the Dutch AFM to be among the first to adopt this new regulatory framework,” Sotorite added. .
The main goals of comprehensive regulation include preventing money laundering, protecting users, and supporting innovation and market stability.
For MoonPay, this approval means expansion across a huge market, giving more people and businesses access to crypto payments, buying and selling via Venmo, PayPal, Apple Pay, debit cards, credit cards, and bank transfers. You will be able to do it.
