Ripple's preliminary crypto asset provider license in Luxembourg upgraded to fully compliant
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Ripple said Monday that Luxembourg upgraded its preliminary Crypto-Asset Service Provider (CASP) authorization under the European Union’s (EU) Markets in Crypto-Assets (MiCA) regulations to a full license.
Key facts
In February, Rippled secured full approval as an Electronic Money Institution (EMI) from Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), a step that lets
Ripple said Monday that Luxembourg upgraded its preliminary Crypto-Asset Service Provider (CASP) authorization under the European Union’s (EU) Markets in Crypto-Assets (MiCA) regulations to a full
The CASP license Ripple announced Monday makes the company one of several digital asset firms to have full authorization under MiCA, which became law three years ago and came into full force on July 1
This CASP authorisation means Ripple enters the post-transitional MiCA era fully compliant and ready to scale,” said Cassie Craddock, the company's managing director for Europe and the U.K
Summary
Ripple received a full MiCA Crypto-Asset Service Provider license from Luxembourg, allowing it to offer cryptoasset services across the European Economic Area. The authorization makes Ripple one of a small group of digital asset firms fully approved under MiCA, with unlicensed crypto companies forced to halt operations in the region. The license builds on its February approval as an Electronic Money Institution in Luxembourg, positioning the company to scale regulated payment and crypto services throughout the European Union. “This CASP authorisation means Ripple enters the post-transitional MiCA era fully compliant and ready to scale,” said Cassie Craddock, the company's managing director for Europe and the U.K., in a statement.