Coinshares (CS) said it received its license under the European Union Markets (MICA) regulations in the Crypto Assets (MICA) regulations, the first Crypto Asset Manager based in the continent.
This approval allows Jersey-based Saint Helier to provide crypto portfolio management services across 27 countries under a single, harmonious regulatory framework. Operations have already been passed to countries including Germany, the Netherlands and Luxembourg, and could expand further, the company said.
Licenses granted by the French Autorité Des Marchés Financiers (AMF) participate in existing permissions of Coinshares under the EU MIFID and AIFM Directives. The company is the only European asset manager with all three qualifications, the company says.
This is a step that will help open the European asset management industry into cryptocurrency investment products that more fully regulate the European asset management industry of 33 trillion euros ($38.7 trillion).
“The MICA approval from AMF is a significant milestone not only for coin shares, but for the entire European digital assets industry,” CEO Jean-Marie Mognetti said in a statement. “With MICA, we have a clear and harmonious structure throughout the EU, and we are proud to be the first in continental Europe to meet that standard as a fully regulated asset manager.”
Various other cryptocurrency companies are worth adding, such as Coinbase, Bybit, OKX, and Crypto.com exchanges.
Founded in 2013 and published on Nasdaq Stockholm, Coinshares said it manages more than $9 billion in assets.
The company’s shares rose 1.7% to 120 Krona ($12.66). They have risen by more than 46% since the start of the year.
