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Crypto
EU begins ousting unlicensed crypto firms, tells them to halt operations
European Union financial market regulators have told unlicensed crypto service providers to immediately wind down operations, with no exceptions after the MiCA transition period ends on July 1. The European Securities and Markets Authority said firms operating without authorisation must begin exit procedures or face strong enforcement. It ordered an immediate halt to onboarding new EU users and to all local advertising, while allowing limited functions for withdrawals and transfers to protect existing users.
Crypto
OKX launches stablecoin payment card in Europe
Crypto exchange OKX is launching a stablecoin payment card in Europe, Cointelegraph reported on Jan. 28 local time. The card will be issued through OKX electronic money institution partner Monavate and can be used directly on the Mastercard network. At launch, it will support payments in USDC and USDG, or Global Dollar. OKX is registered as a crypto-asset service provider regulated under the EU’s MiCA framework.
Crypto
Ripple wins preliminary EMI licence approval in Luxembourg
Ripple has cleared another hurdle in expanding its cryptocurrency services in Europe after receiving preliminary approval for an Electronic Money Institution licence from Luxembourg\'s financial regulator, CSSF, Cointelegraph reported. Ripple said the move is key to expanding digital asset infrastructure in Europe and that full EMI approval would allow payment services using stablecoins and other digital assets. CSSF sent a greenlight letter setting conditions for final approval.