UK-based digital asset liquidity provider B2C2 has secured a virtual asset service provider(VASP)registration expanding its operations to Luxembourg ahead of new rules being implemented in Europe.
The Markets in Crypto Assets Regulation(MiCA),due to take effect this year,is the European Union’s comprehensive crypto law.The legislation promises legal certainty,compliance challenges and global implications.MiCA’s primary goal will be to establish a unified rulebook for regulating crypto-asset markets.
London-based B2C2 said in a press release it has officially become the twelfth VASP to be registered on the Commission de Surveillance du Secteur Financier’s(CSSF)public register in Luxembourg.
According to the liquidity provider obtaining a VASP registration will allow B2C2 to offer over-the-counter spot crypto services to institutional clients.Other perks include collaborating with local VASPs,traditional financial institutions,and other market participants.
B2C2 said it has appointed Denzel Walters,to head up the Luxembourg team as head of Luxembourg.Prior to the promotion,Walters was the Business Manager in B2C2’s London office.Walters has previously held positions at the Bank of England,Prudential Regulatory Authority,and Optima Partners.
B2C2 operates across the Americas,Asia-Pacific and EMEA regions.“As B2C2 prepares for MiCA regulation to come to force,obtaining VASP registration in Luxembourg is a further milestone for B2C2,as Luxembourg is home to a rapidly expanding virtual asset community,”said Thomas Restout,CEO of B2C2 in a press release.
MiCA Feedback Window Open
In January,the European Securities and Markets Authority(ESMA),the top regulator of the European Union’s financial markets,opened a feedback window on guidelines under MiCA regulation.
Recently,Social media X has been abuzz with speculation on whether Proof-of-Work(PoW)consensus networks,like Bitcoin,may be banned in the European Union(EU)following the release of a draft assessment by the European Comission and the European Central Bank(ECB),writes Cryptonews reporter Jimmy Aki.
Daniel Batten,a managing partner at CH4 Capital,shared on his X(formerly Twitter)profile that the ECB and European Securities and Markets Authority(ESMA)were assigned to craft the report.In a screenshot Batten shared,the EU report presents an alarming assessment of Bitcoin and other PoW blockchain protocols.Suggesting a possible ban on Bitcoin and its mining processes in the region,the analysis highlighted that they are environmentally harmful due to their high energy demands.