BitGo Secures MiCA License for EU Crypto Services
BitGo, a leading cryptocurrency custodian, has obtained a MiCA license from Germany’s financial regulator, BaFin. This license allows BitGo to provide regulated crypto services throughout the european Union.
BitGo Europe GmbH,the company’s European branch established in 2023,received the license. It is indeed already registered in various EU countries, including Italy, Spain, Poland, and Greece. The license positions BitGo to serve both crypto-native firms and conventional financial institutions.
BitGo views the EU as a hub for digital asset innovation,thanks to MiCA’s harmonized regulatory approach. The company believes these rules will boost institutional participation and market trust.
- BitGo sees MiCA as a positive step for the crypto industry.
- Some in the industry worry MiCA could lead to firm closures or mergers.
MiCA, which took effect in late 2024, aims to unify the EU’s fragmented crypto regulations. however, only 17 crypto businesses across seven EU countries have received MiCA authorization, according to TRM Labs data.
Despite concerns, BitGo remains optimistic about MiCA’s impact on the crypto landscape in Europe.
