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On December 30, the implementation phase of the European Union’s Markets in Crypto-Assets (MiCA) framework concluded, enabling authorities to enforce regulations on specific crypto service providers operating within the EU.
MoonPay, a prominent crypto payments firm, has announced its approval to operate as a licensed crypto business in the Netherlands under the MiCA framework. In a notice issued on December 30, MoonPay reported receiving its license from the Dutch Authority for the Financial Markets, signaling compliance with MiCA regulations.
The MiCA framework, initially adopted in 2023, became fully enforceable for crypto asset service providers across the EU as of December 30. This regulatory milestone ensures that MoonPay can continue to provide fiat-to-crypto on-ramps and crypto-to-fiat off-ramps for its users under the newly granted Dutch license.
Ivan Soto-Wright, MoonPay’s co-founder and CEO, described the approval as a “pivotal step in solidifying the crypto industry’s role in the global economy.”
The conclusion of MiCA’s implementation phase also marked the start of an 18-month transitional period. During this time, EU member states can allow existing crypto asset service providers to operate under their jurisdictions while they adjust to the new regulations. Firms operating under pre-existing laws can continue providing services until July 2026 or until their licenses are officially reviewed.
Founded in 2018, MoonPay has established itself as a leading provider of fiat-to-crypto services, facilitating transactions through platforms like PayPal for customers in the United States, United Kingdom, and the EU. Recent reports suggest MoonPay is also exploring the acquisition of Helio Pay for approximately $150 million.
Since MiCA’s proposal in 2020 and its adoption in 2023, EU policymakers have intensified the enforcement of rules affecting the crypto industry. For instance, stablecoins became subject to MiCA regulations on June 30, leading to actions such as the delisting of Tether’s USD (USDT) by certain exchanges.
MoonPay’s MiCA approval reinforces its position as a compliant and trusted player in the evolving crypto regulatory landscape, reflecting its commitment to aligning with global standards for transparency and accountability in the industry.
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