MoonPay, BitStaete, ZBD, and Hidden Road have become the first companies to receive Markets in Crypto Assets (MiCA) licenses in the Netherlands.
The licenses were issued by the Dutch Authority for the Financial Markets (AFM) and allows these firms to operate across the European Union’s 27 member states.
The EU’s regulatory framework for crypto assets requires companies to obtain a Crypto Asset Service Provider (CASP) license from any EU member state to provide services across the bloc. The December 30 deadline for member states to implement MiCA has seen uneven adoption, but the Netherlands is among the early adopters.
“MiCA represents a pivotal moment for the European digital asset industry, and we’re proud to have worked collaboratively with the Dutch AFM to be among the first to embrace this new regulatory framework,” said Ivan Soto-Wright, CEO and co-founder of MoonPay.
Backed by investors such as Paradigm and Coatue, MoonPay was valued at $3.4 billion after raising $555 million in a Series A funding round in 2021. The company contributed $1 million to Stand With Crypto, an advocacy group with a political action committee (PAC) established by cryptocurrency exchange Coinbase.
Meanwhile, fan engagement platform Socios.com announced it secured a Class 3 Virtual Financial Assets Act (VFAA) license from the Malta Financial Services Authority, allowing it to operate as a regulated Virtual Financial Asset service provider.
The U.K., which is aligning its approach to crypto with EU standards, recently added GSR Markets to its crypto register.
Since the introduction of MiCA in 2020 and its passage in 2023, EU regulators have steadily implemented rules to govern the crypto industry. Stablecoins, for instance, have been subject to enforcement since June 30, leading to changes like the delisting of Tether by some exchanges.