Two Malta-based cryptocurrency companies, OKX and Crypto.com, have been granted full licences under the European Union’s Markets in Crypto-Assets Regulation (MiCA), allowing them to expand their services across the European Economic Area (EEA).

The licences, issued by the Malta Financial Services Authority (MFSA), provide both companies with passporting rights, enabling them to operate seamlessly from any EU member state.

In a statement, OKX declared itself the first global crypto exchange to receive a full MiCA licence.

Crypto.com emphasised that securing a MiCA licence had been a “major priority” for the company in recent years.

“Receiving this approval further cements our continued commitment to being the most compliant and regulated crypto platform globally,” said Eric Anziani, President and COO of Crypto.com.

He also praised the EU’s regulatory foresight, stating that the streamlined regulatory framework would allow for greater compliance while enabling seamless cross-border transactions.

The significance of MiCA for crypto businesses

The MiCA framework, introduced in 2023 and formally enacted in December 2024, aims to unify crypto regulations across the bloc. By implementing a single regulatory structure, the EU intends to enhance transparency, consumer protection, and security within the cryptocurrency sector while providing businesses with greater clarity on compliance requirements.

Crypto.com already holds several global licences, including:

• UK Electronic Money Institution Licence (FCA)
• Major Payment Institution Licence in Singapore (MAS)
• Virtual Assets Service Provider Licence in Dubai (VARA)
• U.S. Money Transmitter Licences
• Australian Financial Services Licence (AFSL)

For OKX, the approval was the result of collaborative efforts across different departments within the company.

"It was through the teamwork between various departments of the company and OKX Group, led by the vision of its formidable founder, Star Xu, that made the MiCA licence possible. Another milestone is achieved,” said Samuel Azzopardi, Deputy General Counsel and Head of Legal Europe at OKX.