Coinshares (CS) said he received a license under the regulation of the European Union markets in Crypto Assets (MICA), the first cryptographic asset manager based in continental Europe to qualify.
The approval allows the company based in Saint Helier, based in Jersey, to offer cryptography portfolio management in the 27 nations block under a single harmonized regulatory framework. Operations are already passed to countries, including Germany, the Netherlands and Luxembourg, and can expand even more, the company said.
The license, granted by the authorité des marches financial (AMF) of France, joins the existing permits of coinshares under the MIFID and AIFM directives of the EU. That, says the company, makes it the only important European asset manager to have the three credentials.
It is a step that the company says that it could help open the 33 billion euros ($ 38.7 billion) in the European asset management industry to more completely regulated cryptocurrency investment products.
“Receiving Mica’s authorization from AMF is a fundamental milestone, not only for Coinshares, but for the entire European digital asset industry,” said Jean-Marie Mognetti CEO in the statement. “With Mica, we now have a clear and harmonized structure throughout the EU, and Coinshares is proud to be the first in continental Europe in complying with that standard as a fully regulated asset administrator.”
It is worth adding several other cryptocurrency companies, they have secured Mica licenses, including Coinbase, Bybit, OKX and Crypto.com exchanges.
Founded in 2013 and was publicly negotiated in Nasdaq Stockholm, Coinshares says it manages more than $ 9 billion in assets.
The company’s shares increased 1.7% to 120 krona ($ 12.66). They have more than 46% in the year to date.
