Boerse Stuttgart Digital Secures MiCA License

Germany-based cryptocurrency exchange Boerse Stuttgart Digital has received a license from MiCA crypto asset service provider (CASP). This makes it the first exchange in the region to attain such height. The license was awarded by the German regulator BaFin. MiCA Changes Crypto Regulation Trajectory Boerse Stuttgart Digital had just experienced a full year of explosive growth, with its crypto trading volumes tripling and contributing as much as 25% to overall revenue. Then comes the MiCA license in 2025. It hits this milestone when several companies are clamoring to secure the MiCA license. Once they can obtain the license, they can offer their crypto services across the 27-nation in the European Union. MiCA rule took effect on December 30, marking a significant pivot from the season when CASPs were required to acquire separate licenses in each nation. MiCA offers a unified legal framework across the European Economic Area (EEA). Oliver Vins, Boerse Stuttgart Digital’s chief finance and regulatory officer, thinks that the MiCA license enhances Germany’s overall competitiveness in the European crypto market. Meanwhile, Germany scaled through the legislation required to implement MiCA just before the year-end deadline. MoonPay Receives Approval Under EU MiCA Regulation With the new license, Boerse Stuttgart Digital has joined the likes of MoonPay, which received the same approval just before the year ended. The license proves that MoonPay complies with the rigorous standards outlined in MiCA. Hence, it is positioned for expansion of its services in the European crypto ecosystem. Moreover, it allows MoonPay users to interact with the exchange’s fiat-to-crypto and crypto-to-fiat payment services across Europe. According to Ivan Soto-Wright, MoonPay’s CEO and co-founder, the “approval underscores MoonPay’s commitment to regulatory excellence and our mission to build a trusted bridge between traditional finance and the crypto economy.” Tether Argues Against MiCA Regulation While several crypto firms want to get the MiCA license, others, like Tether, think it’s a bad idea. MiCA’s comprehensive regulatory framework requires that entities issue all stablecoins with an e-money license. As a result, stablecoin issuers need to hold reserves in independent banks and track transactions. However, Tether does not want to comply with this rule, and till now, USDT has been non-compliant with MiCA . The post Boerse Stuttgart Digital Secures MiCA License appeared first on TheCoinrise.com .