Bitstamp secures Micar license, gaining approval to operate as a Virtual Asset Service Provider (VASP) in Lithuania.
Robinhood's Subsidiary Secures crucial MiCAR License, Reinforcing European Crypto Regulatory Portfolio
Frankfurt - In a significant move, Bitstamp, a subsidiary of the U.S. financial services company Robinhood, has secured the much-anticipated Crypto Asset Service Provider (CASP) license under the Markets in Crypto-Assets Regulation (MiCAR) in Europe. This development marks a significant milestone in Bitstamp's expansion and compliance with stringent EU regulations.
By obtaining the CASP license, Bitstamp complies with the extensive regulatory framework designed to standardize crypto asset services across the European Union. This regulatory compliance offers a secure and trustworthy environment for investors, ensuring seamless integration into the European financial market.
The acquisition of the CASP license allows Bitstamp to conduct various operations, including custody, trading, and order execution, across Europe. This expansion opens doors for servicing a wider clientele—from retail to institutional investors.
For professional investors, this combination of staking and futures contracts under a single platform offers the advantage of hedging in a regulated, pan-European market. This increases market participation and stability while providing a legal and secure means for engaging in crypto trading and other services.
As part of the EU's Digital Finance Strategy, the MiCAR framework aims to foster innovation and competitiveness in the digital financial sector. Bitstamp's involvement with MiCAR aligns with this objective, contributing to potential growth and innovation in the crypto space.
The acquisition of the MiCAR license positions Bitstamp as a leader in the European crypto market, bolstering its reputation as a reliable platform for professional investors. This development signifies a major step forward in establishing a regulated and expansive crypto market in Europe, providing professional investors with a secure and compliant platform for engaging in crypto services.
- The securing of the MiCAR license by Robinhood's subsidiary, Bitstamp, serves as a testament to the company's commitment to technological advancements in the fintech industry, focusing specifically on the finance and cryptocurrency sectors.
- With a strengthened regulatory portfolio, Bitstamp is now equipped to offer a secure and trustworthy environment for European investors, blending fintech with technology to make inroads in the expansion of the digital financial sector, in accordance with the EU's Digital Finance Strategy.
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