Crypto exchanges OKX and Crypto.com stated in their statement on January 27, 2025 that they managed to obtain a full license under the European Union’s Crypto Assets Market Regulation (MiCA).

These licenses, issued by the Malta Financial Services Authority (MFSA), authorize both exchanges to offer regulated crypto services in the European market. This development stands out as an important step in a period when regulations in the field of crypto assets and digital financial products are strengthening.

MiCA regulations create a framework for crypto asset services within the EU, and a feature called “passporting” stands out within this framework. Passportation allows a business licensed in one country to offer regulated services in other countries of the EU.

Thanks to this feature, exchanges such as OKX and Crypto.com will be able to operate in all member countries of the European Economic Area (EEA). This increases the accessibility of crypto services, allowing users in Europe to more easily access crypto assets and trading tools.

OKX plans to offer a range of services to EEA users with the MiCA license it received. The exchange will specifically offer over-the-counter (OTC), spot and bot trading services to users in the EEA region.

Additionally, OKX’s website and mobile app will offer customized content and support in different languages ​​in the region. Thus, OKX aims to further improve the user experience in Europe.

Crypto.com also announced that it had received the MiCA license on the same day, stating its aim to offer “a range of crypto services” in Europe.

After receiving the license, Crypto.com plans to make its operations more efficient and respond to the needs of crypto users more quickly. This is seen as part of Crypto.com’s strategy to further grow its large user base in Europe.

OKX Europe CEO Erald Ghoos stated that the license is an important step for growth in the sector and emphasized that Europe has a great potential in digital assets and blockchain technologies. Ghoos said that this development will contribute to the further strengthening of the digital asset ecosystem in Europe.

Eric Anziani, president of Crypto.com, praised the European Union for taking a common sense approach to crypto regulations and implementing forward-looking regulations.

Anziani stated that the MiCA license will help them maintain harmonious operations by facilitating cross-border activities in Europe.

Austria-based fintech platform Bitpanda also announced that it received the MiCA license on the same day. Bitpanda CEO Eric Demuth stated that the success of this regulation cannot only be achieved with a good regulatory framework, but also that effective implementation by EU regulators is critical.

Demuth emphasized that it is important to implement consistent supervision and sanctions for the regulation to be effective.

These developments mean that crypto exchanges will operate in a more regulated and secure environment in the EU market.

As the crypto industry in Europe continues to grow under regulatory assurance, MiCA regulations also provide a foundation to support crypto adoption in Europe.