In a significant development, CoinShares has announced that it has secured a license under the European Union's Markets in Crypto Assets (MiCA) regulation. As the first crypto asset manager based in continental Europe to achieve this milestone, the company is now authorized to offer crypto portfolio management services across all 27 EU member states under a unified regulatory framework. The license, issued by the French Autorité des Marchés Financiers (AMF), complements CoinShares' existing permissions under the EU's MiFID and AIFM directives, making it the only major European asset manager to hold all three credentials.
This achievement is expected to pave the way for the 33 trillion euro European asset management industry to embrace fully regulated cryptocurrency investment products. According to Jean-Marie Mognetti, CEO of CoinShares, receiving MiCA authorization is a crucial milestone not only for the company but also for the entire European digital asset industry.
With this license, CoinShares has become the first fully regulated asset manager in continental Europe to meet the MiCA standard. The company, which was founded in 2013 and is publicly traded on Nasdaq Stockholm, currently manages over $9 billion in assets.
Following the announcement, CoinShares' shares rose 1.7% to 120 krona ($12.66), representing a year-to-date increase of more than 46%.