Crypto market maker Acheron Trading secures first CASP license under MiCA regulatory framework in European Union
Since the full enforcement of the Markets in Crypto-Assets Regulation (MiCA) began on December 30, 2024, several Crypto-Asset Service Providers (CASPs) across the European Union have started obtaining licenses to comply with the new regulatory framework. Among these early adopters is Acheron Trading, a crypto market-making firm that has secured a CASP license under MiCA from the Dutch Authority for the Financial Markets (AFM).
Several prominent CASPs, including exchanges, custody providers, and stablecoin issuers, have begun acquiring MiCA licenses since December 2024. However, no consolidated public list naming these companies was found in the current search results. To find specific names of companies granted CASP licenses under MiCA, direct inquiries with individual national regulatory authorities or specialized industry registries may be necessary.
Licenses are issued by national regulatory authorities within each EU member state. For instance, in Denmark, the Danish Financial Supervisory Authority (*Finanstilsynet*) is responsible for granting CASP licenses and enforcing MiCA rules domestically. In Bulgaria, local regulators now handle CASP licensing following the MiCA regulation. Other EU countries follow a similar pattern, with national supervisory bodies like BaFin in Germany, the AMF in France, or the FCA in the UK (for UK-exiting firms trading in EU) responsible for issuing CASP licenses.
MiCA's regulatory framework standardizes licensing, security, and operational requirements across Europe, enhancing legal certainty and market integrity for CASPs. Acheron Trading's mission is to provide liquidity for the benefit of all market participants while promoting transparency and setting high standards for integrity. The firm mandates transparency and collaboration in its everyday operations to counter manipulative practices, and it promotes transparency in the industry through fair commercial relationships, real-time liquidity reporting, and dissemination of educational resources.
Laurent Benayoun, CEO of Acheron Trading, stated that Europe is a strategic market for the firm, and MiCA positions Europe as a first mover in the industry. Acheron Trading is pursuing licenses in other jurisdictions, following global efforts for greater regulation in the crypto space. The leadership team at Acheron Trading consists of experts in mathematics, computer science, economics, risk management, legal and regulatory matters, with experience from Goldman Sachs, PwC, UBS, Macquarie Group, and successful entrepreneurial ventures.
The CASP license allows Acheron Trading to offer its services across the European Union. The license will be included in the public registers held by AFM and the European Securities Markets Authority (ESMA). Acheron Trading's CASP license approval came less than a year after the appointment of its new Chief Legal Officer, Daniel Lo, who was instrumental in the success of the licensing process. The firm's CASP license approval came less than a year after the appointment of its new Chief Legal Officer, Daniel Lo.
Since MiCA came into effect on 30 December 2024, only a few crypto companies have been granted a CASP license by the AFM. The leadership team at Acheron Trading is also actively involved with prestigious universities such as Princeton and Cornell. Acheron Trading, with its seven-year track record and having historically worked with over 400 issuers, is the first dedicated CASP-licensed market maker in Europe.
Exclusive written comments from Laurent Benayoun and Wesley Pryor are available upon request. For more information about Acheron Trading and its services, visit acherontrading.com.
Cloud technology was utilized by Acheron Trading in its operations, ensuring efficient management of data and enhancing the transparency of its operations. The firm's CEO, Laurent Benayoun, mentioned in his comments that Europe, with the implementation of MiCA regulation, presents a promising market for the integration of cutting-edge technology in the business of crypto-asset service provision.
In the rapidly evolving landscape of finance and business technology, Acheron Trading is at the forefront of adopting news and innovations to strengthen their position in the market. Their chief legal officer, Daniel Lo, played a significant role in navigating the regulatory framework of MiCA, ensuring compliance and allowing the firm to expand its services in line with technology advancements.
