$XRP Ripple has confirmed its intention to obtain a license under the Markets in Crypto-Assets (MiCA) regulation in order to expand in the European Union.
A spokesperson for Ripple stated that the company "intends to comply with MiCA" because it sees "a great opportunity in the European market". This confirmation comes following Ripple's registration of "Ripple Payments Europe S.A." in Luxembourg in late April.
Luxembourg is considered an emerging hub for cryptocurrency companies seeking to comply with MiCA regulation, as major companies like Coinbase and Bitstamp have already obtained MiCA licenses from regulatory authorities there.
The MiCA license obtained in any EU member state allows the licensed company to operate throughout the European Economic Area (EEA).
The MiCA regulation aims to provide a comprehensive and unified regulatory framework for crypto-assets in the EU, ensuring market transparency, protecting consumers and investors, and preventing market abuse😇😇.
