Venga Moves Closer to MiCA License with Pre-Application

• Venga’s proactive pre-application increases its chances of MiCA approval.
• Venga wants to provide EU-wide services with MiCA compliance by 2025.

As part of a move to fortify its compliance with regulatory practices, the European crypto-app, Venga has made a pre-application for Markets in Crypto-Assets licensing. This follows its stand regarding holding its place of excellence and remaining one of the most prestigious ones within the industry across the European Union.

Pre-application with the national regulatory body of Spain, CNMV, marks the strategic vision of Venga in taking up the proposed regulatory framework of MiCA quite in time. This process of pre-application is divided into two phases, including one that provides the opportunity for interaction with authorities to guide and correct possible issues even before presenting the formal application. Venga is, therefore, shortening the chances of delay and thus preparing to go through an easy transition to full compliance as the deadline for the MiCA regulatory framework comes at the end of December 2025.

“From day one, we’ve prioritized compliance, which has already resulted in successful registrations as a Virtual Asset Service Provider (VASP) in Spain and Poland,” said Michael Stroev, CEO of Venga. This license will enable us to take our advanced blockchain services all over the European Union and penetrate further into new financial products in the digital space, Venga says.

Venga Acts Ahead in Pursuit of MiCA Compliance

But this time it hits the right note for Venga as MiCA, coming into force from 31st December 2024, makes harsher demands against CASPs across Europe. Throughout 2025, the transitional phase remains open, enabling CASPs to operate using their national licenses until they start to switch to MiCA where requirements are way more elaborate and detailed. Consequently, Venga can embrace the application process much in advance to ascertain if its policies and procedures meet that higher threshold; hence, allowing it to go ahead.

MiCA is the step toward unification, clarity, and safety in the European Union’s crypto market, so the industry would feel confident with this. The early move made by Venga secures not only its future but also paves the way for other CASPs in light of the increasingly complex regulatory world.

It is very easy to have internal procedures in place,” according to Ana Carolina Oliveira, Chief Compliance Officer at Venga. According to her, “MiCA is not just getting a license but having strong compliance practices to guarantee transparency, prevent market manipulation, and avoid financial crime.”.

The mobile app through Venga enables access to all citizens of the EU to decentralized finance, cryptocurrency trading, and staking. It brings the blockchain closer for beginners and, on the other hand, professionals. The MiCA license newly established would definitely cement Venga’s credentials for being a fully compliant crypto service provider that enables trust and safety within the European market.

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