Key Takeaways
- AMINA Bank has obtained MiCA approval to offer crypto services for its professional clients.
- MiCA-compliant crypto exchanges are expected to record over $2.3 trillion in trading volumes this year.
- Europe’s crypto firms have until July 2026 to gain MiCA licenses.
A multi-national digital assets bank has secured approval under the EU’s Markets in Crypto Assets (MiCA) regulations to expand its crypto offerings in Austria.
More Crypto
As per a press release shared with CCN, Swiss-regulated digital assets bank AMINA has gained 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 to “professional investors” in Austria and scale those services across Europe.
More specifically, the CASP license allows them to offer digital assets trading, staking, custody, and portfolio management services.
The bank was previously regulated under the Swiss Financial Supervisory Authority (FINMA), through which it had already begun offering crypto services.
Most recently, the bank became the first to directly offer Polygon (POL) staking with “enhanced yields” on its platform.
The news comes hot on the heels of a recent victory for its Hong Kong subsidiary, which secured licenses from its financial watchdog to offer crypto services and manage digital assets.
Upcoming Changes
The EU’s sweeping MiCA regulations came into full effect in late December 2024.
Firms now have until July 2026 to obtain MiCA approval in order to continue operations in the region.
So far, dozens of firms have been approved, though many remain pending, and fines for non-compliance are expected to exceed €1.2 billion ($1.4 billion) this year.
However, the upsides of MiCA are hard to ignore, as trading volumes on MiCA-compliant exchanges are on track to exceed $2.3 trillion, an increase of 40% from 2024.
In addition, the European Securities and Markets Authority (ESMA) may be granted U.S. SEC-like oversight over the digital assets market as part of a new draft legislation.
This, it hopes, will increase its competitiveness and increase the region’s appeal for startups and investors.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
