CoinFlip Wins Italy MiCA License After EU Crypto Grace Period Ends

CoinFlip picked up a MiCA license from Italy's CONSOB, two days after the EU's crypto-asset transition period expired. The approval lets the U.S.-based firm offer regulated services across all 27 member states through passporting rights.

July 1 marked the end of MiCA's grandfathering clause. Crypto-asset service providers without national authorization or a new MiCA license can no longer legally serve EU clients. ESMA, the bloc's securities watchdog, told national regulators to enforce orderly wind-downs for unauthorised firms.

The company plans to base its European operations in Milan. CEO Ben Weiss called the license a unified regulatory foundation for expansion. Regional director Emanuele Carotti said it lays the groundwork for scaling the network across Europe.

The end of the transition period splits the market into two groups. Firms with MiCA authorisation from a national regulator can serve the whole EU. Firms without it must stop or face penalties. CoinFlip is in the first group. Its Italian license, received from CONSOB, is the first for an international crypto firm under the new regime. The license gives CoinFlip a clear path to scale its ATM network and OTC services across Europe, while competitors scramble for approvals.

CoinFlip said it is the first international crypto-asset service provider operating under the new Italian MiCA framework. The company's European headquarters will be in Milan.