LCX Submits Pre-Application for MiCA License in Liechtenstein
A crypto asset exchange based in Liechtenstein, LCX, has formally submitted a pre-application for the Pan-European MiCA license under the Liechtenstein Financial Market Authority (FMA). This positions LCX as one of the first regulated exchanges in Europe, aiming to comply with upcoming regulations.
Preparation for MiCA Regulations
LCX is preparing for the new MiCA rules, effective in Liechtenstein on February 1, 2025. The license will enable LCX to operate across 30 countries in the European Economic Area, including the EU, Iceland, Liechtenstein, and Norway, serving a population of approximately 450 million.
Registered as a Crypto Assets Service Provider (CASP) since 2020, LCX has more registrations under Liechtenstein’s Blockchain Laws and the Trusted Technology Service Provider Act than any other company. LCX is positioned to meet stringent regulatory standards under the forthcoming MiCA regulation.
Statements from Leadership
Monty C. M. Metzger, CEO of LCX, emphasized that applying for the preliminary MiCA license is crucial for the company's growth strategy and commitment to regulatory compliance. He stated:
“Filing for the preliminary MiCA license is a pivotal step in our growth strategy and reflects our long-standing commitment to regulatory excellence. We have always been a leader in driving compliance within the crypto industry, and this move will enable us to continue delivering innovative, compliant, and secure services to become the leading crypto exchange in Europe. People are proud of having an account at LCX”
The process through which LCX complied with Liechtenstein regulations illustrates its proactive approach to transitioning smoothly to MiCA. Formal applications for the MiCA license can begin on February 1, 2025, when the MiCAR rules take effect, offering clear regulations while fostering innovation in Bitcoin, digital assets, and blockchain technology.
New Features Enhance Security and Fund Management on LCX Platform
Founded in 2018, LCX has added a new Address Management feature that allows users to create a Whitelisted Address Book for storing trusted wallet addresses. This feature enhances security by preventing errors from copy-pasting addresses and ensuring withdrawals can only be made to pre-approved addresses. LCX stated:
“This feature simplifies fund management, reduces mistakes, and adds an extra layer of protection against unauthorized withdrawals. It’s one more way LCX prioritizes your safety while enhancing your experience”
Additionally, LCX has been expanding its offerings by listing new tokens such as AIOZ, USUAL, BRETT, MOVE, and SERV, providing users with more trading options.