The post Venga Takes Early Steps Toward MiCA License with Pre-Application Submission appeared on BitcoinEthereumNews.com.

By submitting its pre-application for the Markets in Crypto-Assets (MiCA) license, Venga, the European cryptocurrency app, has taken a proactive move to ensure regulatory compliance with EU laws. Venga’s dedication to upholding the highest standards of industry leadership and regulatory excellence is shown by this action. Venga’s strategic vision and understanding of the advantages of early adoption are shown in its decision to file a pre-application to Spain’s national responsible body, the CNMV. Companies such as Venga may interact with authorities to get input and improve their applications during the “experimental period” made possible by the pre-application process. This collaborative setting lowers the possibility of application refusal and ensures more seamless transitions to full compliance by enabling applicants to fix any possible shortcomings prior to official examination. In addition to reducing the possibility of bottlenecks near the December 2025 deadline, Venga’s early actions put it in a strong position to get its MiCA license on time. On December 31, 2024, MiCA formally went into force, establishing a uniform regulatory framework for the cryptocurrency industry across the European Union. It states that during a transitional period that ends on December 31, 2025, Crypto-Asset Service Providers (CASPs) in Spain may continue to operate under their current national licenses. Venga’s CEO, Michael Stroev, said: “We have had a compliance-first approach from day one, which has already resulted in Venga successfully obtaining Virtual Asset Service Provider (VASP) registrations in Spain and Poland. The next step is to secure the MiCA license, enabling us to market our services across the entire EU, which will allow more Europeans to discover and access new blockchain innovative products and services through Venga.” Compared to current national laws, the MiCA framework has stricter standards. Venga takes advantage of the transitional phase by participating in the pre-application process to establish…

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Filed under: News - @ January 29, 2025 6:22 pm