As of 30 December 2024, when MiCA is set to go into effect and ZBD’s licence will be granted, the company can provide a broad range of crypto custody and crypto exchange services across the trading bloc. Initially, ZBD, formerly known as Zebedee, submitted the application for the licence in April 2024. When it comes to the rest of the applicants obtaining a MiCA licence, AFM stated that they can view their status on the regulator’s website after the regulation is fully implemented. The Netherlands was among the European countries that have supported companies in preparing for MiCA.
Just before ZBD announced the receipt of its approval for the MiCA licence, the European Securities and Markets Authority (ESMA) released final reports including regulatory technical standards and guidelines for the full implementation of the regulation. The move came after 18 months of broad regulatory work, with the agency providing more than 30 Technical Standards and Guidelines, the majority of them made in partnership with the European Banking Authority (EBA). At the time of the announcement, ESMA underlined its plans to continue to deliver guidance and collaborate with all NCAs to facilitate the application of MiCA and to support an equal playing field through supervisory convergence actions.
In addition to the Netherlands, other countries recently came forward and introduced initiatives that aimed to assist companies in transitioning to MiCA. For example, at the beginning of December 2024, the Central Bank of Latvia launched free-of-charge pre-licensing consultations for crypto-asset service providers (CASPs) intending to secure the EU MiCA authorisation. As part of this initiative, the financial institution developed licensing and pre-licensing procedures, aiming to provide support for participants in this sector, allowing them to innovate and advance their capabilities and operations. The Central Bank of Latvia was set to start accepting applications and issuing operating permits as of January 2025.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now