BBVA Gains Regulatory Approval to Offer Bitcoin, Ether Trading
Spain’s financial watchdog has given Banco Bilbao Vizcaya Argentaria (BBVA), a leading Spanish bank, the go-ahead to roll out bitcoin (BTC) and ether (ETH) trading services. This milestone aligns with the rollout of the European Union’s Markets in Crypto-Assets (MiCA) regulation, a comprehensive framework standardizing crypto operations across the bloc. A Long Road to Approval BBVA’s journey into the crypto space began in 2020 when it eyed Switzerland as a potential hub, drawn by the country’s progressive stance on digital assets under the Financial Market Supervisory Authority (FINMA). However, the bank shifted its focus to its home turf, navigating a years-long regulatory process in Spain. With MiCA now in force, BBVA has successfully gained approval, enabling it to offer compliant crypto trading to its Spanish clientele. This isn’t BBVA’s first foray into digital assets. Earlier in 2025, the bank dipped its toes into the market by launching crypto trading through a subsidiary in Turkey. The latest nod from regulators allows BBVA to scale up, bringing bitcoin and ether trading to a wider audience in Spain and solidifying its position as a pioneer among Europe’s banking giants. Europe’s Banks Embrace Crypto BBVA joins a wave of traditional financial institutions warming to cryptocurrencies. In Germany, Deutsche Bank has been busy crafting an Ethereum-based roll-up solution with ZKsync while offering custody services via Taurus. Across the border, France’s Société Générale, through its SG-FORGE arm, has introduced a euro-pegged stablecoin on the XRP Ledger. These moves signal a broader shift as Europe’s banking sector increasingly integrates digital assets. MiCA Paves the Way The EU’s MiCA regulation is proving to be a game-changer, providing clarity and uniformity for crypto-related services. BBVA’s approval underscores how this framework is encouraging traditional banks to dive into the digital asset market. As institutional interest surges, more European financial players may follow suit, leveraging MiCA to tap into the growing demand for cryptocurrencies.With this development, BBVA is well-positioned to bridge conventional banking and the crypto economy, catering to a client base eager for regulated digital asset offerings.
Tether Absent as EU Approves 10 Firms Under MiCA for Stablecoin Issuance
In a significant regulatory move, the European Union has authorized ten firms to issue stablecoins under the Markets in Crypto-Assets (MiCA) regulations, excluding Tether, the world’s largest stablecoin issuer. The approval allows these companies to operate within the EU’s strict regulatory framework, facilitating the issuance of euro-pegged and US dollar-pegged stablecoins across the region. The authorized firms include Banking Circle, Circle, Crypto.Com, Fiat Republic, Membrane Finance, Quantoz Payments, Schuman Financial, Societe Generale, StabIR, and Stable Mint. Collectively, they have launched ten euro-pegged stablecoins and five US dollar-pegged stablecoins. Tether’s absence from the list is notable, given its $141 billion market capitalization. The lack of regulatory approval has prompted crypto platforms to begin delisting USDT for EU-based users, potentially impacting its market dominance in the region. MiCA Paves the Way for Regulated Crypto Services MiCA, the EU’s comprehensive regulatory framework for crypto-assets, is gradually reshaping the digital finance landscape in Europe. In addition to approving stablecoin issuers, the European Securities and Markets Authority (ESMA) has authorized 11 Crypto-Asset Service Providers (CASPs) across Germany, the Netherlands, and Malta. These providers can now offer trading, exchange, execution, custody, and transfer services within the EU’s regulatory guidelines. The MiCA regulations aim to harmonize crypto-asset rules across the European Economic Area (EEA), providing a clear legal framework to boost investor confidence while enhancing consumer protection. A MiCA license enables companies to “passport” their services across all 30 EEA countries, making it crucial for firms seeking to expand their market share in Europe. Race for Market Share Intensifies With the regulatory landscape rapidly evolving, competition among crypto firms is intensifying as they race to secure MiCA licenses. The approval of Circle, a leading issuer of the USDC stablecoin, could pose a challenge to Tether, especially with the ongoing delisting of USDT in the EU. The absence of Tether raises questions about the company’s regulatory strategy and future positioning in Europe’s crypto market. Meanwhile, the newly authorized entities would capitalize on the opportunity, leveraging their regulatory approval to expand their services across the region. As MiCA gradually takes effect, the regulatory race is set to redefine the competitive dynamics of the crypto industry in Europe, with firms striving to adapt to the new standards and capture emerging market opportunities.
Bybit Removed from France’s AMF Blacklist After Two Years of Compliance Efforts
Cryptocurrency exchange Bybit has been officially removed from the blacklist of France’s financial markets regulator, the Autorité des Marchés Financiers (AMF), after more than two years of regulatory efforts. This marks a significant step forward for the exchange, which is working toward obtaining a Markets in Crypto-Assets (MiCA) license that would enable it to legally operate across the European Union (EU). Bybit has been blacklisted by the AMF since 2022 for operating without proper registration and offering digital asset services in France without authorization. The decision to remove the exchange from the blacklist follows extensive compliance efforts and regulatory discussions aimed at aligning with French regulations. Ongoing Efforts Toward MiCA License In a statement posted on X (formerly Twitter) on February 14, Ben Zhou, co-founder and CEO of Bybit, confirmed the removal of the exchange from the AMF blacklist and outlined the company’s plans to secure the MiCA license. The MiCA license would allow Bybit to operate fully within the EU’s legal framework for digital assets, a significant milestone as regulators across Europe continue to tighten rules on cryptocurrency services. Bybit’s efforts to comply with France’s crypto regulations are part of broader moves to ensure the exchange remains compliant with global financial authorities. Despite this positive development in France, Bybit is still facing challenges in other jurisdictions. Regulatory Pressure in Other Markets Bybit’s regulatory hurdles extend beyond France. In Malaysia, the exchange has been ordered by the securities regulator to cease operations, and in India, increasing regulatory pressures have led Bybit to suspend its services in the country. The exchange’s suspension of services in France, which includes halting withdrawals and custody services starting in January 2025, highlights the ongoing challenges that crypto exchanges face in meeting the requirements of various national authorities. Bybit’s attempts to navigate these complex regulatory landscapes underscore the evolving nature of global crypto regulations, with exchanges facing increasing scrutiny from financial authorities worldwide.
OKX Secures Pre-Authorization for MiCA License
Seychelles-based cryptocurrency exchange OKX has achieved a significant milestone by securing pre-authorization under the Markets in Crypto-Assets Regulation (MiCA). This move positions OKX as a pioneering Virtual Financial Assets (VFA) exchange in Europe. In addition, it will prepare the trading platform for expansion across the European Economic Area (EEA), comprising thirty member states. In a nutshell, the pre-authorization, obtained from Malta’s financial regulator, sets the stage for OKX to enhance its offerings to over 400 million Europeans through its Malta-based hub. According to the press release relaying the new development, Malta was chosen for its robust regulatory framework and reputation as a hub for blockchain technology. OKX currently holds a Class 4 VASP license from the Malta Financial Services Authority (MFSA), further solidifying its position as a trusted provider of crypto services. OKX Plans for Customers Under MiCA regulations, OKX plans to introduce a range of regulated products, including over-the-counter (OTC) trading, spot trading, and bot trading. The exchange will support more than 240 cryptocurrencies and over 260 trading pairs, including 60 Euro-based pairs. To cater to local preferences, OKX will customize its website and mobile app with language options, local currency displays, and customer support in various European languages. In addition to its advanced trading platforms tailored for both beginners and experienced traders, OKX offers high liquidity and reliability with industry-leading technology boasting 99.99% uptime. The exchange emphasizes transparency with Proof of Reserves and ensures seamless fiat transactions with free euro deposits and withdrawals via bank transfers and other local payment methods. With a global customer base exceeding 60 million, OKX aims to redefine the crypto experience in Europe by combining regulatory compliance with user-friendly innovations. The expansion under MiCA marks a strategic advancement towards establishing OKX as a cornerstone of the European crypto landscape, ensuring secure and accessible digital asset services for all levels of investors. As OKX continues to navigate the regulatory landscape and expand its footprint, the exchange remains focused on delivering secure, transparent, and compliant crypto solutions to customers worldwide.
Kosovo Bolsters Crypto Crime Tracing with Council of Europe’s Guidance
Kosovo’s latest effort to fight this rising rate of crypto crimes comes at a perfect time.
