- CoinShares makes history, first to secure MiCA license for crypto management.
- Triple license status positions CoinShares as Europe’s trusted crypto asset manager.
- Mognetti says MiCA license proves crypto must operate under clear rules.
CoinShares has just made history in the European crypto industry. The well-known European cryptocurrency investment firm has secured a new license under the Markets in Crypto-Assets Regulation, also known as MiCA. CoinShares said on Wednesday that it was granted this license under its French affiliate, CoinShares Asset Management.
Firm Holds Rare Triple License: AIFM, MiFID, and Now MiCA
This is not a normal license. It places CoinShares as the initial controlled crypto asset manager in continental Europe with MiCA. This massive move provides CoinShares with a combination of three big licences. There is AIFM License, MiFID License, and now MiCA Authorisation.
CoinShares has an AIFM License, which permits the management of alternative investment funds. The MiFID License enables the company to provide portfolio management and advice on the regular financial assets. Currently, the MiCA license includes the right to administer and provide advice concerning crypto-assets as well.
It implies that CoinShares will be able to provide professional services to manage crypto assets legally in the EU. It already operates in France, Germany, Cyprus, Ireland, Lithuania, Luxembourg, Malta and the Netherlands. In the near future, the company will have more presence in the EU countries.
This emerging license addresses one of the biggest issues of the crypto investment sphere in Europe. Most crypto platforms have termed themselves asset managers without the appropriate licenses. They lacked clear regulations on the separation of important functions such as custody, trading and portfolio management. However, CoinShares is now one of the companies that do it right.
Jean-Marie Mognetti, Co-Founder, and CEO of CoinShares, expressed his opinion on this huge news. According to him, the MiCA authorization is a great step forward both to CoinShares and the rest of the crypto industry. Over the years, crypto managers have been required to operate under less or no rules. MiCA gives a single, unambiguous framework to all EU countries now.
CoinShares Approval Builds Trust for Big Institutions Entering Crypto
Mognetti believes this license shows that crypto is here to stay. He believes that it must be controlled under robust, well-defined regulations to safeguard investors. CoinShares being a public company, had always been a believer in good governance and clear rules. Its new license now supports that belief with actual legal force.
By getting this approval, CoinShares is now able to provide services to clients that require a regulated counterparty. Most major investors and institutions need this kind of control before they can deal with crypto. The position of CoinShares will contribute to the expansion of confidence in crypto as a valid investment option.
The milestone is achieved when CoinShares continues to expand all around the world. It has recently acquired Valkyrie Funds in the US. The transaction demonstrated the intentions of CoinShares to move outside of Europe. The new MiCA license gives it an extra boost in its EU strategy and assists it in catering to the increasing demand in trusted crypto services.
CoinShares claims that it will continue to operate in a robust regulatory environment. The company will be the first to integrate crypto innovation and smart regulations, and investor protection. Having MiCA, other asset managers can now walk in the footsteps of CoinShares.
Other companies can also attempt to have their MiCA authorization in the next few months. However, at the moment, CoinShares is the first to establish this new norm. European investors will pay attention to what will ensue. CoinShares has paved the way to professional crypto asset management; that is right.
The post CoinShares Secures First MiCA License for Crypto Asset Management appeared first on Live Bitcoin News.
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