The post Venga’s Pre-Application for MiCA License Highlights Early Compliance Efforts in Crypto Sector appeared on BitcoinEthereumNews.com.

Key highlights: Venga has submitted its pre-application for the EU’s Markets in Crypto-Assets (MiCA) license to Spain’s CNMV. This proactive step ensures compliance and a smoother transition ahead of the December 2025 regulatory deadline. MiCA aims to harmonize crypto regulations across Europe, boosting industry transparency and security. Early compliance steps pave the way for MiCA readiness Barcelona-based crypto platform Venga has officially submitted its pre-application for the Markets in Crypto-Assets (MiCA) license. This represents a significant move toward regulatory compliance in the European Union. The license application, submitted to Spain’s Comisión Nacional del Mercado de Valores (CNMV), shows Venga’s commitment to aligning with EU-wide crypto standards. MiCA, which took effect on December 31, 2024, sets a unified regulatory framework for crypto-asset service providers (CASPs) across Europe. While a transitional period allows CASPs in Spain to operate under national licenses until December 31, 2025, Venga’s early engagement positions it to meet the new standards well ahead of the deadline. This pre-application phase offers applicants an opportunity to address potential gaps in compliance during an “experimental period.” By engaging with regulators for feedback, companies can refine their applications and reduce the risk of delays or denials, paving the way for a seamless transition to full compliance. Leadership perspectives and a compliance-first approach “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.” —Venga CEO Michael Stroev MiCA introduces stricter standards than existing regulations, covering anti-money laundering (AML), market integrity, and customer transparency measures. Venga is leveraging this transitional period…

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Filed under: News - @ January 29, 2025 3:20 pm