tradias GmbH announced recently that it has successfully obtained approval by the German Federal Financial Supervisory Authority (BaFin) under the Markets in Crypto-Assets Regulation (MiCA).
Following the submission of its notification at the end of last year, tradias GmbH has been “granted authorization to provide the following crypto asset services” in compliance with MiCAR:
- Exchange of crypto assets for fiat currency (Art. 3 Abs. 1 Nr. 16c MiCAR)
- Exchange of crypto assets for other crypto assets (Art. 3 Abs. 1 Nr. 16d MiCAR)
- Execution of orders in crypto assets on behalf of clients (Art. 3 Abs. 1 Nr. 16e MiCAR)
- Placement of crypto assets (Art. 3 Abs. 1 Nr. 16f MiCAR)
- Transfer services for crypto assets on behalf of clients (Art. 3 Abs. 1 Nr. 16j MiCAR)
CEO Michael Reinhard has shared:
“Receiving approval under MiCAR marks an important milestone for tradias. This regulatory recognition underscores our commitment to providing secure, transparent, and compliant crypto asset services. As the digital asset landscape evolves, we remain dedicated to offering innovative and regulated solutions that meet the highest industry standards.”
As mentioned in the announcement, this latest regulatory approval builds the foundation for further European expansion of tradias and reaffirms its commitment “to compliance and transparency in the evolving digital asset market.”
The company noted that it will now continue to “provide secure and efficient trading solutions for its clients under the new regulatory framework.”
As covered, MiCAR, or the Markets in Crypto-Assets Regulation, is a European Union regulation that aims to create a “harmonized regulatory framework for crypto-assets,” focusing on investor protection, market integrity, and financial stability.
- Purpose: MiCAR aims to establish a unified set of rules for crypto-assets and related services within the EU, “covering areas like issuance, trading, custody, and administration.”
- Scope: The regulation applies to crypto-assets that are not already covered by existing financial services legislation, “including asset-referenced tokens (ARTs) and e-money tokens (EMTs).”
Key Objectives:
- Protecting consumers and investors: MiCAR aims to ensure that investors are well-informed and protected from risks associated with crypto-assets.
- Ensuring financial stability: The regulation seeks to mitigate risks to the financial system that could arise from the crypto-asset market.
- Promoting innovation: MiCAR aims to create a regulatory environment that is conducive to innovation in the crypto-asset space.