OKX and Crypto.com Obtain Full MiCA Licenses for EU Operations
On January 27, OKX and Crypto.com obtained full licenses under the European Union's Markets in Crypto-Assets Regulation (MiCA) from the Malta Financial Services Authority (MFSA). This regulatory approval allows both platforms to provide regulated crypto services across the European Economic Area (EEA).
The MiCA license enables:
- Seamless operation in EU nations through the "passporting" feature
- Improved access for users to secure cryptocurrency services
- OKX to offer spot trading, bot trading, and over-the-counter transactions
- Adaptation of website and mobile app to local languages and currencies
- Crypto.com to deliver a range of services tailored for European users
Erald Ghoos, CEO of OKX Europe, highlighted MiCA's role in promoting responsible leadership in the crypto industry, noting its harmonized approach across the region. He stated that MiCA allows access to over 400 million potential customers in 30 EEA markets.
MiCA's Impact on Crypto Growth
Under MiCA compliance, OKX offers access to over 240 crypto tokens and 260 trading pairs, including euro-crypto options. Users can deposit and withdraw euros without fees via bank transfers or purchase cryptocurrencies using cards.
The MiCA framework supports long-term investments and trading opportunities. Ghoos emphasized Europe's potential as a blockchain hub, reinforcing the foundation for industry growth. While other exchanges like Binance explore alternative regions, OKX and Crypto.com are committed to expanding their presence in Europe, setting a precedent for others.
Bitpanda has also secured a MiCA license in Germany.