- MoonPay has received regulatory approval as MiCA compliant.
- The crypto payments platform has secured a license in the Netherlands.
Crypto payments platform MoonPay has secured a license under the European Union’s Markets in Crypto-Assets regulation.
MoonPay announced that the Dutch Authority for the Financial Markets (AFM) has approved its application for registration under MiCA rules. The Dutch regulator granted the license, which means MoonPay can now offer its services and products across Europe as guided and regulated under 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 executive officer Ivan Soto-Wright said in a statement.
MiCA roll out
The platform’s milestone is key to its growth, with MiCA providing a unified regulatory and legal framework for crypto industry players in the EU.
MiCA rules come into full effect on Dec. 30, 2024, having been approved and adopted in 2023. Several companies digital asset service providers have looked to secure approval to continue offering services and products across 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 comprehensive regulations include prevention of money laundering, user protection and support for innovation and market stability.
For MoonPay, the approval means expansion across the huge market, with more people and businesses able to tap into crypto payments, buying, trading and selling via Venmo, PayPal, Apple Pay, debit and credit cards and bank transfer.
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