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 London-based crypto liquidity provider B2C2 has obtained an operational Virtual Asset Service Provider (VASP) license from the Luxembourg Financial Sector Supervisory Commission. The firm <a style="color: #0000ff;" href="https://www.businesswire.com/news/home/20240207179953/en/B2C2-Acquires-Luxembourg-VASP-Registration%20aitau%20accepted" rel="noopener noreferrer nofollow">announced </a>this in a press release published on February 7, 2024.&nbsp;
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According to the press release, the VASP license empowers B2C2 to offer over-the-counter (OTC) spot cryptocurrency services to institutional customers. It also opens up avenues for the firm to collaborate with domestic VASPs, mainstream financial institutions, and other market participants.
B2C2, a globally recognized liquidity provider catering to a diverse customer base across Asia-Pacific (APAC), the Americas, and EMEA regions, sees this approval as a strategic move to tap into Luxembourg’s burgeoning virtual asset market.
With this approval, B2C2 joins the ranks of virtual asset service providers registered on Luxembourg’s Commission de Surveillance du Secteur Financier’s (CSSF) public register, becoming the 12th VASP to do so.
The firm believes that this development positions its to leverage opportunities presented by the upcoming <a style="color: #0000ff;" href="https://defi-planet.com/2023/10/an-introduction-to-eus-crypto-asset-regulations-mica/" rel="noopener noreferrer nofollow">Markets in Crypto Assets (MiCA) regulation</a>. Notably, this licensing follows B2C2’s recent acquisition of an ownership stake in the Paris-based crypto liquidity provider Wootton.
MiCA is set to establish the EU as the first major jurisdiction with a comprehensive regulatory framework for the digital asset industry. Enacted into law by the European Parliament last April, MiCA aims to provide regulatory clarity within the EU’s virtual asset and cryptocurrency sector. The full implementation of the regulations is <a href="https://defi-planet.com/2023/06/european-unions-mica-regulation-added-to-official-journal-as-countdown-to-implementation-begins/" rel="noopener noreferrer nofollow">expected to begin on June 30, 2024.</a>
Before MiCA, the European cryptocurrency industry navigated varying regulations and approaches across its member states. The lack of a unified regulatory framework left the virtual asset market operating in a grey zone, often outside mainstream financial market regulations, exposing customers to risks such as rug pulls and various crypto scams.
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The post <a href="https://defi-planet.com/2024/02/b2c2-secures-regulatory-approval-from-luxemborgs-cssf/" rel="noopener noreferrer nofollow">B2C2 Secures Regulatory Approval from Luxemborg’s CSSF</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

B2C2 Secures Regulatory Approval from Luxemborg’s CSSF

DeFi Planet

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