Popular cryptocurrency exchange, Bitstamp, has secured its Crypto Asset Service Provider (CASP) license approval from the Luxembourg-based regulator, Commission de Surveillance du Secteur Financier (CSSF). The exchange confirmed the development in a Friday blog post, adding that it obtained the license under the European Union’s Markets in Crypto-Assets (MiCA) regulation.
It is worth noting that the exchange also plans to secure European passport. As revealed, this passport, when paired with the CASP license, permits Bitstamp to carry out trading services and, execute orders on behalf of clients on its platform. It also allows the exchange to take custody of clients’ crypto assets across the European Economic Area.
The exchange’s global CEO, Jean-Baptiste Graftieaux, has reacted to the development. Graftieaux commended the MiCA’s rigour in providing a safe and regulated environment for both clients and investors in the European Union.
Furthermore, Bitstamp is recognized as one the longest-standing and most regulated crypto exchanges in the world. With its vast portfolio of licenses, obtaining the CASP license under the MiCA further highlights its commitment to ensuring utmost security standards and clients’ safety.
Bitstamp secures MiFID license to operate Multilateral trading facility
Meanwhile, the Crypto Asset Service Provider license came barely a year after Bitstamp secured a MiFID license for operating a Multilateral Trading Facility (MFT). In August, the exchange also launched a new mobile application that allows users to manage their cryptocurrencies according to their convenience. As revealed, the application was launched in two mode, pro and basic, tailored to meet the demand of each user.
With the ongoing growth of cryptocurrency, numerous digital asset service providers are actively pursuing the Markets in Crypto-Assets (MiCA) license to enable them offer their services to clients across the European Union. Just this year alone, more than three major exchanges have secured a MiCA license.
Among these exchanges is Gemini, which secured an investment license from the Malta Financial Services Authority (MFSA). In January, OKX also received a MiCA license, with Bitpanda not left out in this development.
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