Ripple (XRP) Launches New European Offensive: “License Obtained That Binance Couldn’t Get!”

While Bitcoin and altcoins continue their sideways movement, developments related to MICA, one of the most talked-about topics in the cryptocurrency market, continue to unfold.

The latest news comes from Ripple. The company behind the altcoin XRP announced today that it has received a Crypto Asset Service Provider (CASP) license in Luxembourg under the European Union’s Crypto Asset Markets (MiCA) regulation.

In this context, Ripple announced that it has received full Crypto Asset Service Provider (CASP) authorization from Luxembourg’s CSSF under the EU’s MiCA framework.

This approval follows its preliminary authorization in June and allows Ripple to offer regulated crypto services in all 30 countries of the European Economic Area.

Cassie Craddock, Ripple’s General Manager for the UK and Europe, stated, “This CASP authorization means Ripple is entering the post-MiCA era fully compliant and scalable. The organizations we work with across Europe want to develop digital asset services alongside regulated partners, and Ripple is licensed and ready to meet that demand.”

Ripple also stated that it holds more than 75 regulatory licenses globally.

Binance Failed to Obtain a License!

In contrast, Binance, the world’s largest cryptocurrency exchange, has been unable to obtain a license under the European Union (EU) MICA. As a result, Binance is suspending its trading services in some European countries, including France, due to its lack of a MICA license.

In this context, Binance suspended its spot and margin trading services for users in affected countries starting from May 1st, when the MICA regulations fully came into effect. Currently, users can withdraw cryptocurrencies but cannot make new transactions.

MICA is legislation introduced to create a unified regulatory framework for crypto assets across the EU, and in principle, unlicensed exchanges cannot provide trading services in the region. In this regard, major global exchanges, including Binance, are undergoing licensing processes to meet regulatory requirements.

*This is not investment advice.

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