Bullish's German unit wins MiCA license for crypto services across EU

[Crypto currency Bitcoin E-commerce concept on digital Screen]
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Bullish's (NYSE:BLSH [https://seekingalpha.com/symbol/BLSH]) German arm has secured [https://seekingalpha.com/pr/20222702-bullish-completes-micar-license-uplift-with-germanys-bafin-for-digital-asset-trading-and] Markets in Crypto-Assets Regulation (MiCA) licensing from the German Federal Financial Supervisory Authority (BaFin), allowing the crypto exchange to offer its services anywhere in the European Union, it said on Friday.

"Europe is the second largest cryptoasset economy in the world and institutional demand for regulated, transparent trading venues is growing rapidly," said Chris Tyrer, president of Bullish Exchange. "We believe that our MiCAR approval allows us to continue to meet that demand head-on, by offering the trusted execution that institutions need to confidently engage with digital assets."

Bullish Europe was previously grandfathered through its crypto brokerage and custody licenses from BaFin.

The company will continue to be overseen by BaFin, it noted, as firms remain under the supervision of their home country regulator under MiCAR.

Meanwhile, Bullish (NYSE:BLSH [https://seekingalpha.com/symbol/BLSH]) shares drifted down 2% in late morning trading, hovering around session lows.

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