based on material from the site - By AICryptocore.com
Mark Nuvelstein, CEO and co-founder of Bitvavo, announced that the company has obtained a Markets in Crypto-Assets (MiCA) license in the Netherlands, simplifying regulated crypto services across Europe.
Licensing of Bitvavo under MiCA is crucial for the integration of the European market and regulatory consistency. It supports a level playing field, compliance with broader EU financial services, and improved regulated access.
The Amsterdam-based exchange Bitvavo has received a MiCA license from Dutch regulators. As a result, the exchange can now offer regulated cryptocurrency trading on 30 markets in the EEA. This expansion is expected to enhance its market influence. The approval of the MiCA license required extensive internal preparation. Jitan Patel, Bitvavo's Chief Risk Officer, emphasized the importance of this process. Mark Nuvelstein highlighted the 'milestone' aspect for Bitvavo and the broader European regulations.
Investor confidence in Bitvavo may significantly increase with the new license. It is expected that regulation will attract more institutional clients, boosting confidence in cryptocurrencies such as BTC and ETH. Increased investor trust and clarity in EU regulation could lead to increased trading volumes. Other exchanges, including Kraken and Coinbase, have received similar licenses. These steps underscore the regulatory focus of the industry. Historical precedents show that regulatory licenses often contribute to the growth of cryptocurrencies in Europe. 'We fully support the core principles of MiCA. It is crucial for ensuring a level playing field in Europe that rules are formulated and applied consistently across all member states.' – Mark Nuvelstein, CEO and co-founder of Bitvavo
The structure of MiCA is essential for the cohesion of the European crypto landscape. Its consistent implementation is crucial for exchanges and investors. Enhanced regulatory oversight supports the infrastructure for tokens such as BTC and altcoins on licensed platforms.
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