Regulation
Bitstamp crypto exchange complies with MiCA regulations
Bit stampthe world’s oldest cryptocurrency exchange, announced changes to its platform to comply with regulations on crypto-asset markets (Mica), which will come into force in the European Union on June 30.
These changes aim to ensure greater security and transparency for users, aligning with new regulatory standards. Let’s see all the details below.
Bitstamp Exchange Prepares for MiCA Compliance
As anticipated, Bit stampa well-known global cryptocurrency exchange, has confirmed a series of updates to its platform to comply with the Markets in Crypto-Assets (MiCA) regulations.
This measure will come into force in the European Union on June 30th. Before this deadline, the stablecoin denominated in euros EURT will be removed from the list of offered currencies.
However, non-euro electronic money tokens (EMT), currently available on the platform but not covered by the MiCA Regulation, will not be delisted.
These EMT will continue to be available, but access for European customers will be limited to certain products. Bitstamp clarified that it will not add new EMTs that do not meet MiCA requirements and will not engage in their promotion.
With more than 50 licenses worldwide, Bitstamp is among the most regulated trade in the world. The platform already complies with many standards established by MiCA and actively monitors the evolution of this regulatory framework to ensure full compliance.
James SullivanBitstamp UK CEO said:
“We welcome the implementation of MiCA, which will standardize the regulation of cryptocurrencies across the European Union. As the world’s oldest cryptocurrency exchange, we have always supported proportionate regulation that protects consumers while enabling the continued evolution of cryptocurrencies as an asset class. Our commitment to compliance and security puts us in a strong position to adapt to these changes. We communicate directly with the small portion of our clients whose asset mix is affected.
Bitstamp adds BONK: the rise of crypto
Bitstamp recently announced the list of BONKa popular meme coin based on the blockchain of Solana.
The new BONK/USD and BONK/EUR trading pairs are therefore available on the platform worldwide, with the exception of the United States and Singapore.
BONK’s listing on Bitstamp comes a few months later Robin Hooda commission-free trading platform, added support for the cryptocurrency in March, an event that led to a 19% price increase.
In contrast, the Bitstamp listing generated only a modest 2% increase in the price of BONK, according to data from CoinGecko. This difference in impact could be attributed to the persistent regulatory challenges that the all cryptocurrencies faces.
Recently, the United States Securities and Exchange Commission (SEC) has labeled several tokens, including Solanaas unregistered securities in its legal actions against cryptocurrency exchanges Binance And Coinbase.
Despite these challenges, Robinhood remains optimistic about the cryptocurrency market and announced its intention to acquire Bitstamp For 200 million dollars in liquid. The deal, revealed earlier this month, is expected to close in the first half of 2025.
According to the broker Bernstein, The acquisition could significantly expand Robinhood’s cryptocurrency offerings. Bitstamp currently lists over 85 tokens, compared to 15 available on Robinhood in the US and over 30 in Europe.
In parallel, Cryptocurrency Robinhooda subsidiary of Robinhood, recently received a Wells Notice from the SEC, indicating the agency’s intent to bring a civil action against the company for alleged violations of the Securities Exchange Act of 1934.
Implications for the market
Bitstamp’s decision to list BONK reflects the growing interest in meme coins and the importance of diversifying offerings to attract a wider range of investors.
However, the limited impact on BONK’s price suggests that investors may be cautious due to regulatory uncertainties.
Robinhood’s potential acquisition of Bitstamp could represent a significant turning point, expanding Robinhood’s presence in the cryptocurrency market and strengthening its competitive position.
Amid increasing regulation and legal challenges, cryptocurrency exchanges like Bitstamp and Robinhood continue to look for ways to adapt and grow.
BONK’s listing on Bitstamp and planned acquisition by Robinhood underscore the evolving dynamics of the industry and the importance of remaining flexible and ready to face new challenges.