**Blockchain.com Secures MiCA License in Malta Amid EU Regulatory Scrutiny**

Blockchain.com has received its MiCA (Markets in Crypto-Assets Regulation) license in Malta, joining a growing list of crypto firms, including Gate, Gemini, and Kraken, that are using the island as a gateway to access the European Union market.

A spokesperson for Blockchain.com told Decrypt that Malta offers “the right combination of regulatory transparency, institutional expertise, and strategic access to the European Economic Area.” They added, “It will serve as the center of our European operations moving forward. With Fiorentina D’Amore now leading our EU strategy from Malta, we’re well positioned to expand services across the region with full compliance and strong local leadership.”

This licensing marks a significant expansion for Blockchain.com in Europe. The company has been shifting its focus away from centralized exchanges towards brokerage services, institutional infrastructure, and self-custody wallet solutions—segments it views as increasingly important for future growth.

The firm is also keeping a close watch on regulatory developments outside Europe—in regions like the UK, Singapore, Latin America, and the Middle East—and remains open to the possibility of a U.S. public listing, although it has not confirmed recent rumors regarding such plans.

### What is MiCA and How Does “Passporting” Work?

MiCA, which came into full effect in late 2024, establishes the first unified regulatory framework for digital asset providers across the entire European Union. One of its core features is allowing crypto firms to obtain authorization in a single member state and use that authorization as a “passport” to operate across all 27 EU countries.

### Malta’s Regulatory Approach Under the Microscope

Malta’s relatively light-touch approach to crypto regulation has drawn criticism from several European regulators. In mid-September, authorities from France, Austria, and Italy urged for stronger EU-wide oversight, citing significant inconsistencies in how MiCA is being implemented by different national regulators.

They argued that direct supervision by the European Securities and Markets Authority (ESMA) would provide better investor protection. An ESMA review conducted in July pointed out that while the Malta Financial Services Authority (MFSA) shows solid expertise and cooperation, certain risks have not been thoroughly assessed during the authorization process.

Critics further highlight Malta’s lenient stance on gambling and its controversial history with “golden passports” as factors that contribute to perceptions of regulatory arbitrage—where firms choose Malta to gain easier entry to the EU market than might be possible in neighbouring countries.

The European Banking Authority (EBA) has also warned about “forum shopping,” a practice where crypto companies seek licenses in member states perceived as more lenient and then operate across the EU using those licenses. The EBA cautions this could undermine the integrity of the bloc’s financial system.

### Legal Perspectives on Regulatory Diversity

Despite the critiques, some legal experts maintain that regulatory diversity is an inevitable aspect of a single market. Dr. Hendrik Müller-Lankow, a lawyer at German firm Kronsteyn, told Decrypt that supervisory arbitrage is happening across Europe but is a byproduct of balancing national discretion with broader EU integration.

“It is well known that people—and thus also authorities—in different member states have different mentalities when applying laws,” he explained.

As Malta tightens restrictions on new crypto mining and licensing practices, and as the MiCA framework matures, the crypto industry and regulators alike will be closely monitoring how these dynamics continue to evolve across the European Union.
https://decrypt.co/345892/blockchain-com-gains-malta-mica-license-company-eyes-european-expansion