Gate Europe secured a MiCA license ahead of the EU deadline, joining Crypto.com and Bitstamp. The license lets the exchange offer spot trading and custody across all 27 member states under a single passport.
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The Markets in Crypto-Assets regulation took full effect Sunday, closing the European market to unlicensed platforms targeting EU clients. Gate Europe, the European arm of the Gate.io exchange, secured its MiCA license ahead of the deadline, the company said Monday.
The license, granted by Maltese authorities, lets Gate Europe offer spot trading, custody, and fiat on-ramp services across all 27 EU member states under a single passport. The company had applied for the license in late 2024, a person familiar with the matter said.
MiCA is the first comprehensive crypto-specific regulatory framework in a major economy. It requires exchanges, custodians, and stablecoin issuers to hold a license from at least one EU member state, maintain capital reserves, and follow anti-money laundering rules. Platforms that missed the deadline face fines or forced exits from the European market.
Gate Europe joins a growing list of exchanges that secured MiCA licenses in the weeks before the deadline. Crypto.com, Bitstamp, and Coinbase all received approvals from various national regulators in the first half of 2025. Binance, which had pursued a license under its Binance Poland entity, has not announced a MiCA approval and faces an uncertain path in the region.
The deadline creates a two-tier market in Europe. Licensed platforms can market to all 27 member states without additional approvals. Unlicensed platforms must either apply for a license in a remaining jurisdiction or restrict access from EU IP addresses. Some smaller exchanges have already blocked EU users.
For Gate Europe, the license opens access to institutional clients that previously avoided unregulated exchanges. The company plans to expand its European team and add support for euro-denominated trading pairs, the person said.
The European Securities and Markets Authority has said it will monitor compliance and coordinate enforcement actions against unlicensed platforms. National regulators in France, Germany, and Italy have signaled they will take an aggressive stance on enforcement.
The MiCA framework also covers stablecoins, with separate rules for e-money tokens and asset-referenced tokens. Tether's USDT, the largest stablecoin by market cap, has not applied for a MiCA license and faces delisting from EU exchanges that comply with the rules. Circle's USDC and EURC received e-money licenses in France and are compliant.
Gate Europe's license covers spot trading and custody only. The company has not applied for the separate license required to offer derivatives or margin trading under MiCA, the person said.
Trading volumes on licensed European exchanges have risen in the weeks before the deadline, data from Kaiko shows. Daily volumes on MiCA-compliant platforms averaged $1.2 billion in June, up from $800 million in January. The increase reflects both organic growth and migration from unlicensed platforms, analysts at the data firm said.
The next regulatory milestone for European crypto firms is the implementation of the Travel Rule, which requires exchanges to share sender and recipient information for transactions above €1,000. That rule takes effect Dec. 30.
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