If you’re an EU-based crypto trader and you use Binance, you may need to look for a new exchange shortly. In a blog post on Wednesday, the world’s largest cryptocurrency exchange said that it had withdrawn its application for a Greek license to operate in the EU. Those Markets in Crypto-Assets (MiCA) licenses become mandatory for exchanges to continue to do business after July 1. “Binance is not leaving Europe,” Gillian Lynch, the company’s head of Europe and the United Kingdom, told Reuters. “We may just have a different pathway to being authorised. If it is not Greece, I’m looking at other alternatives.” It has said it intends to pursue…
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Ripple Wins EU MiCA License As July 1 Deadline Looms
Luxembourg granted it a preliminary crypto asset service provider license
Ripple has acquired a preliminary crypto asset service provider (CASP) license in Luxembourg, making it compliant with the European Union’s Markets in Crypto-Assets (MiCA) regulations ahead of a July 1 deadline. In a statement on Tuesday, Ripple said that once its CASP is finalized, it would be able to provide regulated cryptoasset services to financial institutions and businesses across the 30-member European Economic Area (EEA). Combined with Ripple’s existing EU Electronic Money Institution (EMI) licence, the CASP license means that European banks, fintechs, and businesses can access Ripple’s full cryptoasset and stablecoin payments infrastructure through a single integration, the company said. The two licenses, when finalized, will make Ripple fully…
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OKX Card Sees Everyday Spend Trumping Luxuries
Groceries and dining were king in the EU
Crypto card holders across the EU are spending their stablecoins on everyday items, not the stereotypical big-ticket luxury items. That’s the finding of an analysis of crypto debit card holders by exchange OKX, which issues the OKX Card. Looking at card transactions from late January to late February, the first month after the card’s launch, OKX found that 26% of all transactions — more than one in four — were for groceries. Food-related spending across groceries, restaurants, and fast food outlets accounted for 44% of all spending. Online marketplaces accounted for 13% “There’s a stubborn myth about crypto spending,” OKX said. “The image that persists is a tech nerd or…
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The European Commission is providing clarity for cryptocurrency businesses while cracking down on stablecoins. (Photo: PixabayEurope unveils plans to regulate cryptocurrencies. It’s good news and bad news
While the proposed measures will make it easier for crypto companies to operate across the EU, global stablecoin issuers are going to face ‘stringent requirements’
Under the new rules, a fintech company that obtains a license to operate in one EU nation will be able to provide services in the trading bloc’s 26 other member states automatically.
