CNMV approval lets the crypto platform operate under the EU’s new regime and passport services across the bloc as the transition from national registrations nears its end.
Venga has been authorized by Spain’s CNMV (securities market regulator) to operate as a Crypto-Asset Service Provider under the European Union’s Markets in Crypto-Assets Regulation, or MiCA. The approval comes weeks before MiCA’s transitional period ends on July 1, when crypto firms still relying on older national registrations must either secure authorization under the new framework or stop offering regulated crypto-asset services in the EU. The license also allows Venga to passport services across the bloc under a single regulatory regime. MiCA marks a major shift from earlier registration-based systems by imposing standards on governance, capital adequacy, operational resilience, cybersecurity, risk management, customer protection and internal controls. Michael Stroev, co-founder and CEO of Venga, said the company spent nearly two years preparing and made substantial investments in governance, compliance, security, reporting systems and operations. The approval lands as Europe’s crypto sector consolidates. More than 3,000 crypto firms were registered across the EU before MiCA took effect, while about 240 had secured full MiCA authorization. In Spain, Venga is one of fewer than 15 MiCA-approved entities. As the transition closes, providers that have not converted may have to suspend regulated activity, move clients or leave some European markets. Stroev said MiCA introduces a new level of ongoing accountability because licensed firms face continuous supervision, periodic reporting, annual audits and oversight by national authorities under standards coordinated by ESMA (European Securities and Markets Authority).