Europe’s Markets in Crypto Assets (MiCA) regulation is now enabling major cryptocurrency firms to significantly expand their operations across the European Economic Area under a new, unified legal framework.
Financial technology giant Revolut, blockchain services provider Blockchain.com, and Bitcoin-focused application Relai each recently announced they have secured MiCA licenses. These authorizations grant them permission to offer and market a full range of crypto-asset services across 30 countries in the bloc. The move marks a critical step in standardizing the digital asset industry across the continent.
The new licenses are expected to provide clear regulatory pathways for these companies, allowing for harmonized service distribution. Other prominent platforms, including Kraken, Gemini, and Bitvavo, have also obtained MiCA licenses, further consolidating a regulated and uniform environment for cryptocurrency operations in the region.
The MiCA framework, which formally entered into force late last year, is redefining Europe’s digital asset ecosystem. Previously, companies could operate in the European Union with only a Virtual Asset Service Provider (VASP) registration from a single member state. Now, firms categorized as Crypto-Asset Service Providers (CASPs) are required to secure a formal MiCA license.
The regulation includes an 18-month grace period for existing operators to comply, prompting a rush of applications from leading industry players.
Revolut, a fintech valued at over $45 billion earlier this year with more than 65 million users, obtained its license through the Cyprus Securities and Exchange Commission. The company, based in the United Kingdom, launched its Revolut X exchange app in March, catering to users in the UK and the EEA.
Blockchain.com received its approval from Malta’s Financial Services Authority. The company stated that this clarity allows it to “scale its services across Europe,” including digital asset custody and institutional treasury tools.
“With this regulatory clarity, we can expand our services across Europe, ensuring a harmonized distribution of our solutions across all member states,” a company representative said.
Switzerland-based Relai, an application focused on Bitcoin acquisition and holding, secured its MiCA license via France’s Autorité des Marchés Financiers (AMF). Relai co-founder and CEO Julian Liniger emphasized the company’s expansion plans.
“We are incredibly proud to be one of the first Bitcoin companies to obtain the MiCA license and eager to expand first in France and then throughout Europe,” Liniger stated.
In related developments, Plasma, a blockchain network specializing in stablecoins, has acquired a VASP registration in Italy and established an office in Amsterdam. The firm, which debuted its mainnet last month, has a pending application for a MiCA license.
The regulated expansion of the crypto ecosystem under MiCA represents a significant milestone in Europe’s efforts to balance technological innovation with robust financial oversight. Companies that adapt swiftly to these new requirements are poised to gain a competitive edge in a market striving for equilibrium between freedom and responsibility.