Crypto.com Secures In-principal MiCA Approval To Operate Across EU

Crypto.com received in-principal approval to operate under the European Union’s Markets in Crypto-Assets (MiCA) framework. Once fully licensed, Crypto.com would be able to serve customers across the EU under a single regulatory standard.

Eric Anziani, Crypto.com’s president and chief operating officer, said MiCA will provide much-needed regulatory clarity and transparency.

MiCA seeks to create a unified regulatory environment for digital assets, covering areas such as asset classification, provider requirements, and jurisdictional oversight. Initially proposed in 2020 and adopted in 2023, the regulation became fully enforceable in December 2024.

Beyond Europe, Crypto.com has been rapidly expanding into other major markets. In late 2024, it launched an institutional cryptocurrency custody service in the United States and acquired broker-dealer Watchdog Capital to strengthen its U.S. presence. Founded in 2016, Crypto.com claims a user base of over 100 million worldwide.

Elsewhere, the U.S. Commodity Futures Trading Commission (CFTC) is rumored to be weighing an inquiry into the legality of Crypto.com’s futures contracts. These contracts, which offer users the chance to place bets on football games—including the much-anticipated Super Bowl—have caught the regulator’s attention.

The CFTC’s five commissioners are voting on whether to initiate a 90-day review of the contracts to determine if they violate gaming laws. The review, if approved, would conclude after the Super Bowl on February 9, but the agency could ban the contracts following the review.

Crypto.com, which operates a U.S.-based derivatives exchange, notified the CFTC on December 19 about its plans to begin trading the contracts on December 23. However, due to time constraints, holiday scheduling, and the threat of a government shutdown, the agency reportedly did not review the contracts before trading launched.

The potential probe reflects ongoing scrutiny of so-called event contracts, which allow users to wager on outcomes ranging from sports to political speeches. Decentralized betting platforms like Polymarket popularized these markets but often block U.S. users to avoid regulatory complications.

Crypto.com’s spokesperson told Bloomberg that the CFTC’s recent legal loss against betting market provider Kalshi over U.S. election-related contracts provided some clarity for offering event contracts.

Crypto.com dropped its lawsuit against the US Securities and Exchange Commission (SEC). The exchange initially filed the suit after receiving a Wells notice in October, but a spokesperson said the withdrawal reflects their intent to collaborate with Trump’s administration on creating a regulatory framework for the crypto industry.