Nexo Completes MiCA Compliance to Continue EU Services
Summary
- Nexo said it has completed preparations under Markets in Crypto-Assets (MiCA) rules to continue operating in the European Union.
- Nexo said it is continuing to provide services across the European Economic Area (EEA) through Tangany and DLT Finance, which hold MiCA licenses in Germany.
- Crypto firms that failed to secure MiCA licenses have suspended services in the EU after the MiCA transition period ended.
Forecast Trend Report by Period
Crypto lender Nexo said it has completed preparations under the European Union’s Markets in Crypto-Assets, or MiCA, regime to continue operating in the region.
Nexo is continuing to provide services across the European Economic Area through Tangany and DLT Finance, its Germany-based partners that hold MiCA licenses, according to Odaily on July 29.
Tangany provides crypto custody services, while DLT Finance supplies brokerage and trade-execution infrastructure. Both companies hold licenses under MiCA and the Markets in Financial Instruments Directive II, or MiFID II.
The MiCA transition period ended on July 1. Since then, crypto firms that failed to secure MiCA licenses have suspended services in the EU this month.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul