Boerse Stuttgart Digital, a unit of stock exchange operator Boerse Stuttgart, said it has been granted a crypto asset service provider (CASP) license by German regulator BaFin that allows it to provide services across the European Union under the Crypto Asset Markets (MiCA). block. regulations.
The company operates a brokerage and an exchange and intends to use the license to expand its offering to financial institutions across Europe, Matthias Voelkel, CEO of Boerse Stuttgart Group, said in an emailed statement.
The companies have been competing for MiCA licenses, which grant cryptoasset service providers permission to operate in the 27-nation bloc. The requirement went into effect on December 30, before which CASPs were required to acquire licenses in each nation separately.
“The issuance of the MiCAR license, just weeks after the adoption of the required national legislation, also improves Germany’s overall competitiveness in the European crypto market,” Oliver Vins, chief financial and regulatory officer at Boerse Stuttgart, said in the email. Digital.
Germany passed the legislation needed to implement MiCA days before the end-of-year deadline, despite political turmoil that resulted in early elections being called for February 23.
Boerse Stuttgart Digital joins MoonPay, BitStaete, ZBD and leading brokerage and clearing firm Hidden Road, which received the license from the Dutch Authority for Financial Markets (AFM) in December.
Read more: EU countries struggle to implement MiCA as deadline for cryptocurrency regulatory renewal approaches
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