tl;dr
Blockchain.com secures MiCA license in Malta, expanding into EU markets while navigating regulatory scrutiny. The move highlights Malta's role as a crypto hub, despite concerns over inconsistent oversight across the EU.
**Blockchain.com Secures MiCA License in Malta, Signaling Expansion in EU Crypto Market**
Blockchain.com has secured a Markets in Crypto-Assets (MiCA) license in Malta, marking a pivotal step in its strategy to expand across the European Union. This move joins a growing list of crypto firms, including Kraken, Gate, and Gemini, that are leveraging Malta’s regulatory framework to access the EU market. The license underscores Blockchain.com’s shift toward brokerage services, institutional infrastructure, and self-custody wallet solutions, areas the company views as critical for future growth.
A spokesperson for Blockchain.com highlighted Malta’s “right combination of regulatory transparency, institutional expertise, and strategic access to the European Economic Area” as a key factor in the decision. The firm will now base its European operations in Malta, led by Fiorentina D’Amore, who will oversee the region’s expansion. “With full compliance and strong local leadership, we’re well positioned to scale our services across Europe,” the spokesperson added.
MiCA, which came into full effect in late 2024, establishes a unified regulatory framework for crypto assets across the EU. It allows firms to obtain a license in one member state and “passport” their services across the 27-country bloc. However, Malta’s approach to crypto regulation has drawn scrutiny. French, Austrian, and Italian regulators recently called for stricter EU oversight, citing disparities in national supervision under MiCA. They argue that direct oversight by the European Securities and Markets Authority (ESMA) is needed to protect investors.
A July ESMA review of Malta’s licensing practices noted that while the Malta Financial Services Authority (MFSA) demonstrated expertise, some risks were not fully assessed during authorizations. Critics point to Malta’s historical leniency toward gambling and its controversial “golden passport” program, which has fueled perceptions of regulatory arbitrage. The European Banking Authority (EBA) has also warned about “forum shopping,” where firms exploit varying national regulations to gain a competitive edge.
Despite these concerns, some legal experts argue that regulatory diversity is an inherent challenge in a single market. Dr. Hendrik Müller-Lankow of German firm Kronsteyn noted that differences in national approaches to regulation are “a byproduct of balancing national discretion with EU integration.”
Blockchain.com’s expansion in Malta comes as the firm monitors regulatory developments in the UK, Singapore, Latin America, and the Middle East. While it remains open to a potential U.S. public listing, the company has not confirmed recent rumors about such a move.
As MiCA reshapes the EU’s crypto landscape, Blockchain.com’s strategy highlights the tension between regulatory innovation and the need for harmonized oversight. Malta’s role as a regulatory hub for crypto firms remains a contentious but influential chapter in the evolving story of digital asset regulation.