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 best requirements of regulatory excellence and trade management.
Venga’s resolution 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 part 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 deal with potential deficiencies earlier than formal analysis, lowering the danger of software 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 beneath current nationwide licenses throughout a transitional interval ending on December 31, 2025.
Venga’s CEO, Michael Stroev, stated: “We’ve got had a compliance-first method from day one, which has already resulted in Venga efficiently acquiring Digital Asset Service Supplier (VASP) registrations in Spain and Poland. The subsequent step is to safe the MiCA license, enabling us to market our providers throughout all the EU, which is able to enable extra Europeans to find and entry new blockchain modern services via 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 satisfy these new requirements. This proactive method permits for a seamless adaptation to the MiCA framework whereas guaranteeing enterprise continuity.
The MiCA regulation is poised to convey consistency and transparency to the European crypto market, fostering belief and safety throughout the trade. Venga’s early adoption of the pre-application course of exemplifies the forward-thinking methods obligatory for long-term success within the sector. By taking proactive measures, Venga isn’t solely securing its future but additionally 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 sturdy inside insurance policies and investing in superior compliance applied sciences. MiCA isn’t solely a couple of license. It’s about implementing stable inside procedures to make sure strict AML insurance policies, forestall market manipulation, assure prudential safeguards and transparency within the communication with clients 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 offers a streamlined consumer expertise that makes it simple for freshmen to enter the digital financial system and begin using blockchain merchandise. The receipt of a MiCA license will improve Venga’s popularity as a compliant crypto service that meets the best trade requirements.
About Venga
Based in Barcelona in 2023, Venga is a crypto startup devoted to taking improvements from the Blockchain and DeFi house and making them extra accessible to the plenty inside a strong and user-friendly cell app. Venga empowers folks to effortlessly uncover, put money into, and navigate the world of Web3 whereas educating about it. The group is fashioned of skilled crypto professionals who’re agency believers in blockchain applied sciences and that the way forward for finance will probably be decentralized.
Study extra: https://venga.com/
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