Key takeaways
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AMINA Bank has obtained MiCA approval to offer crypto services to its professional clients.
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MiCA-compatible crypto exchanges are expected to record over $2.3 trillion in trading volumes this year.
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European crypto companies have until July 2026 to obtain MiCA licenses.
A multinational digital asset bank has gained approval under the EU’s Markets in Crypto Assets (MiCA) regulations to expand its cryptocurrency offerings in Austria.
According to a press release shared with CCN, Swiss-regulated digital asset bank AMINA has obtained approval from Austria’s Financial Market Authority (FMA) to operate as a crypto asset service provider (CASP) under the EU’s MiCA regulations.
The bank now has the green light to launch crypto services for “professional investors” in Austria and scale those services across Europe.
More specifically, the CASP license allows them to offer digital asset trading, staking, custody and portfolio management services.
Previously, the bank was regulated by the Swiss Financial Supervisory Authority (FINMA), through which it had already started offering crypto services.
More recently, the bank became the first to directly offer Polygon (POL) betting with “enhanced returns” on its platform.
The news comes on the heels of a recent victory for its Hong Kong subsidiary, which obtained licenses from its financial watchdog to offer crypto services and manage digital assets.
The EU’s extensive MiCA regulations came into full force at the end of December 2024.
Companies now have until July 2026 to obtain MiCA approval to continue operations in the region.
So far, dozens of companies have been approved, although many remain pending, and fines for non-compliance are expected to exceed 1.2 billion euros ($1.4 billion) this year.
However, the advantages of MiCA are hard to ignore, as trading volumes on MiCA-compatible exchanges are on track to surpass $2.3 trillion, an increase of 40% from 2024.
Additionally, the European Securities and Markets Authority (ESMA) may receive oversight similar to that of the US SEC over the digital asset market as part of a new bill.
It hopes this will boost its competitiveness and increase the region’s attractiveness to startups and investors.
The post AMINA Gains Approval Under MiCA as European Crypto Sector Heats Up appeared first on ccn.com.