Venga lands rare MiCA license as EU moves ahead with leaner crypto space

Venga has received authorization from Spain’s Comisión Nacional del Mercado de Valores (CNMV) to operate as a Crypto-Asset Service Provider under the European Union’s Markets in Crypto-Assets Regulation (MiCA), joining a limited group of firms approved under the bloc’s new regulatory framework.

The authorization comes just weeks before the end of MiCA’s transitional period on July 1, when crypto companies operating under legacy national registrations must either obtain authorization under the new regime or cease providing regulated crypto-asset services within the European Union.

Venga has adapted to EU’s MiCA framework

MiCA represents the most comprehensive regulatory framework ever introduced for crypto assets in a major economic bloc. Unlike previous registration-based systems, the regulation requires firms to satisfy standards covering governance, capital adequacy, operational resilience, cybersecurity, risk management, customer protection, and internal controls.

“Obtaining the MiCA license is a major milestone for Venga and the result of nearly two years of work across every area of the business,” said Michael Stroev, co-founder and CEO of Venga. “Preparing for MiCA required substantial investment in governance, compliance, security, reporting systems, and operational processes. The authorization confirms that we have built the company to operate within the regulatory framework that will define the future of crypto services in Europe.”

The approval arrives during a period of significant consolidation within the European crypto sector. Industry data indicates that more than 3,000 crypto firms were registered across the European Union before MiCA’s implementation, while only around 244 firms had secured MiCA authorization as of May 2026. 

As the transition period concludes, many providers that previously relied on national registrations may need to suspend regulated activities, transfer clients, or exit certain European markets.

Will the MiCA registration change how Venga operates?

The shift is expected to reshape how consumers evaluate crypto platforms. Under MiCA, authorized providers must comply with ongoing supervisory obligations, periodic reporting requirements, annual audits, and regulatory oversight administered by national authorities under standards coordinated by the European Securities and Markets Authority (ESMA).

“For users, MiCA introduces a level of regulatory accountability that has not previously existed across much of the European crypto sector,” Stroev said. “Authorization is not a one-time event. Licensed firms are subject to continuous supervision and must maintain compliance with operational, financial, and customer protection requirements on an ongoing basis.”

The authorization also enables Venga to passport its services across the European Union under MiCA’s harmonized framework, allowing the company to expand beyond Spain while operating under a single regulatory regime.

Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.