OpenPaid has received approval under the European Union’s MiCA crypto rules, allowing it to provide regulated crypto services across the European Economic Area. The company can operate as a crypto-asset service provider and offer on- and off-ramp services between fiat currencies and stablecoins. The licence was issued by Malta’s Financial Services Authority, which has also granted MiCA licences to OKX and Gemini.

Malta\'s Financial Services Authority has begun work on a regulatory framework for decentralised finance that includes decentralised autonomous organisations, according to a Cointelegraph report. The authority published a discussion paper on June 12 under the EU\'s Markets in Crypto-Assets Regulation and will accept industry feedback until July 10. It proposes recognising DAOs as a type of software-based organisation and separating rules for organisations from regulation of underlying protocols and software.