- MoonPay has obtained regulatory approval as MiCA compliant.
- The crypto funds platform has secured a license within the Netherlands.
Crypto funds platform MoonPay has secured a license beneath the European Union’s Markets in Crypto-Belongings regulation.
MoonPay introduced that the Dutch Authority for the Monetary Markets (AFM) has authorized its software for registration beneath MiCA guidelines. The Dutch regulator granted the license, which implies MoonPay can now supply its providers and merchandise throughout Europe as guided and controlled beneath MiCA.
“This approval is a testament to MoonPay’s proactive approach to regulation and our commitment to building a trusted bridge between the traditional financial world and the rapidly evolving crypto ecosystem,” MoonPay co-founder and chief govt officer Ivan Soto-Wright stated in an announcement.
MiCA roll out
The platform’s milestone is vital to its development, with MiCA offering a unified regulatory and authorized framework for crypto business gamers within the EU.
MiCA guidelines come into full impact on Dec. 30, 2024, having been authorized and adopted in 2023. A number of firms digital asset service suppliers have regarded to safe approval to proceed providing providers and merchandise throughout the bloc.
“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,” Soto-Wright added.
Key targets for the great rules embrace prevention of cash laundering, person safety and help for innovation and market stability.
For MoonPay, the approval means growth throughout the massive market, with extra folks and companies capable of faucet into crypto funds, shopping for, buying and selling and promoting by way of Venmo, PayPal, Apple Pay, debit and bank cards and financial institution switch.