B2C2 Expands Operations to Luxembourg with VASP Registration
UK-based digital asset liquidity provider B2C2 has obtained a virtual asset service provider (VASP) registration in Luxembourg, allowing it to expand its operations ahead of the implementation of the Markets in Crypto Assets Regulation (MiCA) in Europe. MiCA aims to establish a unified rulebook for regulating crypto-asset markets and promises legal certainty but also compliance challenges and global implications.
VASP Perks for B2C2
B2C2’s VASP registration enables the company to offer over-the-counter spot crypto services to institutional clients. It also opens up opportunities for collaboration with local VASPs, traditional financial institutions, and other market participants. Denzel Walters has been appointed as the head of the Luxembourg team, bringing his experience from previous roles at the Bank of England, Prudential Regulatory Authority, and Optima Partners.
MiCA Feedback Window Open
The European Securities and Markets Authority (ESMA) has opened a feedback window on guidelines under MiCA regulation. Meanwhile, there is speculation on whether Proof-of-Work (PoW) consensus networks like Bitcoin could be banned in the EU due to their environmental impact. A draft assessment by the European Commission and the European Central Bank suggests a possible ban on Bitcoin and its mining processes in the region due to high energy demands.
Hot Take: B2C2 Secures VASP Registration Ahead of MiCA Implementation
B2C2 has obtained a VASP registration in Luxembourg, positioning itself for expansion in Europe as MiCA regulation approaches. This move allows B2C2 to offer crypto services to institutional clients and collaborate with local VASPs and traditional financial institutions. However, concerns arise regarding the potential ban of Proof-of-Work networks like Bitcoin due to their environmental impact. As the crypto industry navigates evolving regulations, B2C2’s strategic registration in Luxembourg demonstrates its commitment to operating within compliant frameworks and capturing opportunities in the rapidly expanding virtual asset community.
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