The European division of the Bullish crypto -tank has received a Mica license from the Federal Financial Supervision of Germany (Bafin). This will allow the platform to offer services for the trade and storage of cryptocurrencies in accordance with the Rules of the Crypto Activa markets. In addition, the license will simplify Bullish access to financial markets of 27 EU countries.

This is the first time that a large crypto -tank receives a similar license in Germany. Most of the potential foreign participants in the European digital assets market, such as Gemini, Socios, OKX, BITGET or CRYPTO.Com, preferred to undergo licensing procedures in more loyal jurisdictions such as Malta, Cyprus and Lithuania.

Earlier, European Securities and Markets (ESMA) department indicatedthat the Maltese department of financial services (MFSA), the Cyprus Commission on Securities and Exchange (Cysec) and the Bank of Lithuania, responsible for issuing Mica licenses, only partially fulfill the requirements for the issuance of permits to suppliers of digital assets (CASP) eurozone.

ESMA identified “material gaps” in risk assessment, including management, combating money laundering (Aml/CFT) and cybersecurity. The regulator noted that insufficient severity in the verification of applicants may undermine the unified security standards in the EU.

On the eve of Bafin, Mark Branson, Bitcoin and other cryptocurrencies have no internal value, and investors, especially retail, risk the risk of large financial losses, replacing rational investments by playing a “virtual casino”.