Crossmint Receives MiCA Approval for Pan-EU Stablecoin Operations

Reading Time: < 1 minute

Crossmint has obtained a crucial Markets in Crypto Assets Regulation authorization from Spain’s securities regulator, the CNMV. This license allows the company to operate as a regulated crypto asset service provider, establishing it as a compliant stablecoin infrastructure provider across the entire European Union.

Miguel Angel Zapatero, the General Counsel for Crossmint, explained that the company was subjected to regulatory standards identical to those for traditional financial institutions. He emphasized that this process dispels any idea that MiCA represents a lenient framework for crypto businesses.

Zapatero stated that MiCA establishes a uniform competitive landscape and fosters sector confidence through its consistent standards and enforcement. He declared the end of a “wild west” era, noting that MiCA provides the certainty needed to attract more traditional clients who were previously hesitant about crypto technology.

The authorization specifically permits Crossmint to conduct three core activities under the MiCA framework. These include exchanging fiat currency for crypto assets and vice versa, providing custody services for client crypto assets, and facilitating transfers between wallets and across different blockchain networks.