The crypto exchange Bitstamp adapts to MiCA regulations: improvements and news

Bitstamp, the longest-running crypto exchange in the world, has announced the changes made to its platform to comply with the regulation on crypto-asset markets (MiCA), which will come into effect in the European Union on June 30. 

These changes aim to ensure greater security and transparency for users, aligning with the new regulatory standards. Let’s see all the details below. 

The preparations for MiCA compliance of the Bitstamp exchange

As anticipated, Bitstamp, a well-known global cryptocurrency exchange, has confirmed a series of updates to its platform to comply with the regulation on markets in crypto-assets (MiCA).

This will come into effect in the European Union on June 30. Before this deadline, the euro-denominated stablecoin EURT will be removed from the list of offered currencies. 

However, the electronic money tokens (EMT) not denominated in euros, currently available on the platform but not covered by the MiCA regulation, will not be delisted. 

These EMT will continue to be available, but access for European customers will be limited to certain products. Bitstamp has clarified that it will not add new EMT that do not meet MiCA requirements and will not engage in their promotion. 

With over 50 licenses worldwide, Bitstamp is among the most regulated exchanges in the world. The platform already complies with many of the standards set by MiCA and is actively monitoring the evolution of this regulatory framework to ensure full compliance.

James Sullivan, CEO of Bitstamp for the United Kingdom, stated the following: 

“We welcome the implementation of MiCA, which will standardize the regulation of cryptocurrencies across the European Union. As the world’s longest-standing cryptocurrency exchange, we have always supported proportionate regulation that protects consumers while allowing the continued evolution of cryptocurrencies as an asset class. Our commitment to compliance and security places us in a strong position to adapt to these changes. We are communicating directly with the small portion of our customers whose mix of assets are affected.”

Bitstamp adds BONK: the increase of the crypto 

Bitstamp has recently announced the listing of BONK, a popular meme coin based on the blockchain of Solana.

The new trading pairs BONK/USD and BONK/EUR are therefore available on the platform globally, except for the United States and Singapore.

The listing of BONK on Bitstamp comes a few months after Robinhood, a commission-free trading platform, added support for this cryptocurrency in March, an event that led to a 19% price increase. 

On the contrary, the quotation on Bitstamp generated only a modest increase of 2% in the price of BONK, according to the data from CoinGecko. This difference in impact could be attributed to the ongoing regulatory challenges that the settore delle criptovalute is facing.

Recently, the Securities and Exchange Commission (SEC) of the United States labeled several tokens, including Solana, as unregistered securities in its legal actions against the cryptocurrency exchanges Binance and Coinbase.

Despite these challenges, Robinhood remains optimistic about the cryptocurrency market and has announced its intention to acquire Bitstamp for 200 million dollars in cash. The deal, revealed earlier this month, is expected to close in the first half of 2025.

According to the broker Bernstein, this acquisition could significantly expand Robinhood’s cryptocurrency offerings. This considering that Bitstamp currently lists more than 85 tokens, compared to the 15 available on Robinhood in the United States and over 30 in Europe.

In parallel, Robinhood Crypto, a subsidiary of Robinhood, has recently received a Wells Notice from the SEC, indicating the agency’s intention to initiate a civil action against the company for alleged violations of the Securities Exchange Act of 1934.

Implications for the market

The decision of Bitstamp to list BONK reflects the growing interest in meme coins and the importance of diversifying offerings to attract a wider range of investors. 

However, the limited impact on the price of BONK suggests that investors might be cautious due to regulatory uncertainties. 

The potential acquisition of Bitstamp by Robinhood could represent a significant turning point, expanding Robinhood’s presence in the cryptocurrency market and strengthening its competitive position.

In a context of increasing regulation and legal challenges, cryptocurrency exchanges like Bitstamp and Robinhood continue to seek ways to adapt and grow. 

The quotation of BONK on Bitstamp and the anticipated acquisition by Robinhood highlight the evolving dynamics of the sector and the importance of remaining flexible and ready to face new challenges.