Standard Chartered Bags MiCA License as EU Crypto Regulation Tightens
The EU's Markets in Crypto-Assets (MiCA) regulation is now fully operational, with Standard Chartered securing its license. This marks the first major wave of approvals post-transition, bringing the total authorized firms to 280. Expect a clearer regulatory landscape, but watch for potential friction between traditional banks and crypto-native participants.
Standard Chartered just snagged its MiCA license, officially joining the EU's regulated crypto club. This is the first big batch of approvals since the July 1 deadline slammed shut the transitional period. Now, 280 crypto-asset service providers (CASPs) are on the official ESMA register, with traditional finance players like Crédit Agricole's CACEIS rubbing shoulders with crypto natives like FalconX. Standard Chartered Luxembourg is now set to expand its digital asset custody across the EU, ditching national rules for a continental passport. However, the embrace isn't entirely warm. Some Web3 users are calling out banks like Standard Chartered for embracing crypto regulation while still de-risking individuals earning from crypto income. This highlights a potential clash in the next phase of MiCA: licensed infrastructure versus real-world access for industry participants.