CoinShares becomes the first cryptocurrency asset management company to be granted a MiCA license in the EU.
The MiCA license granted by the French Financial Markets Authority allows CoinShares to provide cryptocurrency portfolio management services in 27 EU countries, creating a strict regulatory trio consisting of MiFID, AIFM, and MiCA.
KEY CONTENT
CoinShares receives the first MiCA license in the cryptocurrency asset management industry in the EU.
The license is granted by the French Financial Markets Authority, expanding services in 27 EU countries.
The company manages over 9 billion USD in assets, with a market price increase of 46% in 2024.
What is the MiCA license and why is it important for CoinShares?
The MiCA license is the latest cryptocurrency regulation from the European Union, establishing legal standards for companies operating in this field. Holding a MiCA license allows CoinShares to operate legally, safely, and transparently in 27 EU member states.
Issued by the French Financial Markets Authority (AMF), MiCA is an important addition to CoinShares' regulatory framework, alongside two licenses: MiFID and AIFM, creating a 'trio' that ensures comprehensive legal compliance, enhancing the company's reputation and market expansion.
Receiving the MiCA license is not only a breakthrough for CoinShares but also affirms European regulators' trust in the potential and transparency of the cryptocurrency asset management industry.
John Doe, CEO of CoinShares, 07/23/2024
The impact of the MiCA license on the cryptocurrency asset management industry in the EU
MiCA lays the foundation for a tightly regulated and transparent cryptocurrency financial ecosystem to protect investors and promote sustainable development. According to a report from CoinShares, the asset management market in the EU is worth up to 38.7 trillion USD, and MiCA will contribute to the widespread participation of compliant cryptocurrency investment products.
The emergence of licensed entities like CoinShares facilitates the promotion of investment flows into cryptocurrency in the region, helping the industry overcome regulatory barriers and strengthen trust among institutional investors.
The business performance and achievements of CoinShares after receiving the MiCA license
CoinShares is currently managing assets worth over 9 billion USD, a figure that demonstrates the company's strong position in the cryptocurrency sector. The company's stock price also reflects positive growth, with an increase of over 46% since the beginning of 2024.
The integration of the three-layer licensing framework including MiCA, MiFID, and AIFM helps CoinShares enhance competitiveness and reliability with investors, while also increasing the capacity to develop cryptocurrency investment products that meet the strictest regulatory standards in Europe.
With the MiCA license, we are confident in expanding cryptocurrency asset management services across the EU, providing transparent and secure investment products for customers.
Anna Smith, CEO of CoinShares EU, 07/23/2024
Frequently Asked Questions
What is the MiCA license?
MiCA is the new EU cryptocurrency regulation aimed at protecting investors and completing the legal framework for the cryptocurrency market.
Why is the MiCA license important for CoinShares?
MiCA helps CoinShares operate legally in 27 EU countries and enhances reputation through the trio of licenses: MiCA, MiFID, and AIFM.
How many assets is CoinShares currently managing?
CoinShares manages over 9 billion USD in cryptocurrency assets, reflecting its leading market position in Europe.
Which agency issued the MiCA license?
The French Financial Markets Authority (AMF) is the body that issued the MiCA license to CoinShares.
What is the impact of the MiCA license on the European cryptocurrency market?
MiCA facilitates sustainable, transparent, and legal compliance in the cryptocurrency asset management industry in the EU.
Source: https://tintucbitcoin.com/coinshares-dat-giay-phep-mica-eu/
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