Venga Submits Pre-Application for MiCA License to Ensure Compliant Access to Crypto-Assets
Barcelona, Spain, January twenty ninth, 2025, Chainwire
Venga, the European crypto app, has taken a proactive step towards guaranteeing EU regulatory compliance by submitting its pre-application for the Markets in Crypto-Belongings (MiCA) license. The transfer demonstrates Venga’s dedication to adhering to the very best requirements of regulatory excellence and business management.
Venga’s choice to submit a pre-application to Spain’s nationwide competent authority, the CNMV, displays its strategic imaginative and prescient and recognition of the advantages related to early adoption. The pre-application section facilitates an “experimental interval” throughout which corporations like Venga can have interaction with regulators to obtain suggestions and refine their purposes.
This cooperative setting permits candidates to handle potential deficiencies earlier than formal analysis, decreasing the danger of utility denial and guaranteeing smoother transitions to full compliance. By taking these early steps, Venga additionally mitigates the danger of bottlenecks nearer to the December 2025 deadline, guaranteeing it’s well-positioned to safe its MiCA license in a well timed method.
MiCA formally got here into impact on December 31, 2024, introducing a harmonized regulatory framework for the crypto sector throughout the European Union. Underneath its provisions, Crypto-Asset Service Suppliers (CASPs) in Spain can function underneath current nationwide licenses throughout a transitional interval ending on December 31, 2025.
Venga’s CEO, Michael Stroev, stated: “Now we have had a compliance-first strategy from day one, which has already resulted in Venga efficiently acquiring Digital Asset Service Supplier (VASP) registrations in Spain and Poland. The following step is to safe the MiCA license, enabling us to market our providers throughout the complete EU, which can enable extra Europeans to find and entry new blockchain modern services and products by means of Venga.”
The MiCA framework imposes extra stringent necessities than current nationwide laws. By partaking within the pre-application course of, Venga leverages the transitional interval to implement and refine the interior insurance policies and controls wanted to fulfill these new requirements. This proactive strategy permits for a seamless adaptation to the MiCA framework whereas guaranteeing enterprise continuity.
The MiCA regulation is poised to deliver consistency and transparency to the European crypto market, fostering belief and safety throughout the business. Venga’s early adoption of the pre-application course of exemplifies the forward-thinking methods needed for long-term success within the sector. By taking proactive measures, Venga just isn’t solely securing its future but in addition setting a benchmark for different CASPs navigating the brand new regulatory panorama.
Venga’s Chief Compliance Officer, Ana Carolina Oliveira stated: “We’re dedicated to making sure that Venga turns into a frontrunner in regulatory excellence by sustaining strong inner insurance policies and investing in superior compliance applied sciences. MiCA just isn’t solely a few license. It’s about implementing stable inner procedures to make sure strict AML insurance policies, forestall market manipulation, assure prudential safeguards and transparency within the communication with prospects and the regulators”.
The Venga cell app permits EU residents to entry web3 providers, together with decentralized finance (DeFi), cryptocurrency buying and selling, and staking. It gives a streamlined person expertise that makes it simple for novices to enter the digital financial system and begin using blockchain merchandise. The receipt of a MiCA license will improve Venga’s status as a compliant crypto service that meets the very best business requirements.
About Venga
Based in Barcelona in 2023, Venga is a crypto startup devoted to taking improvements from the Blockchain and DeFi area and making them extra accessible to the lots inside a strong and user-friendly cell app. Venga empowers individuals to effortlessly uncover, put money into, and navigate the world of Web3 whereas educating about it. The crew is shaped of skilled crypto professionals who’re agency believers in blockchain applied sciences and that the way forward for finance will probably be decentralized.
Be taught extra: https://venga.com/
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