Regulation
Bitstamp is MiCA compliant
Global cryptocurrency exchange Bitstamp has made changes to its platform to adapt to the MiCA regulation, which will come into force in the EU on 30 June 2024.
Bitstamp has made a series of updates to its platform to comply with the Cryptocurrency Markets Regulation (MiCA). This will come into force in the European Union on 30 June. Before this deadline, the euro-denominated stablecoin EURT will be removed from the list of currencies offered.
However, non-euro denominated electronic money tokens (EMT), currently available on the platform but not covered by the MiCA regulation, will not be delisted.
These EMTs will continue to be available, but access for European customers will be limited to certain products. Bitstamp has made it clear that it will not add new EMTs that do not meet the MiCA requirements and will not engage in their promotion.
Bitstamp officials said they welcome the implementation of MiCA, which will standardize cryptocurrency regulation across the European Union. As a long-standing cryptocurrency exchange, they have supported proportionate regulation that protects consumers while allowing for the continued evolution of cryptocurrencies as an asset class. They are communicating directly with that small portion of their clients whose asset mix is affected.
Previous news from Bitstamp
Bitstamp previously listed BONK, a Solana-based meme coin, with BONK/USD and BONK/EUR trading pairs available globally, excluding the US and Singapore. The decision reflects the growing interest in meme coins and the importance of diversifying offerings to appeal to a wider range of investors.
A potential acquisition
In early June 2024, Robinhood entered a agreement to acquire Bitstamp receives $200 million in cash to further its expansion into the world of cryptocurrencies. This acquisition marks Robinhood’s entry into the institutional business, leveraging Bitstamp’s reputation for reliable trade execution and strong API connectivity.
Bitstamp’s offerings, including white label solutions, institutional lending and staking, will enhance Robinhood’s crypto services. Its more than 50 global licenses and established customer base in the EU, UK, US and Asia will broaden Robinhood’s reach. The deal, pending regulatory approval, is expected to close in the first half of 2025.