Key Notes
- LCX submitted a pre-application for the MiCA license under Liechtenstein’s Financial Market Authority (FMA).
- The MiCA license will allow LCX to operate across 30 EEA countries.
- LCX expands its offerings with new tokens like AIOZ, USUAL, BRETT, MOVE, and SERV.
A crypto asset exchange based in Liechtenstein, LCX, has formally submitted a pre-application for the Pan-European MiCA license under the Liechtenstein Financial Market Authority (FMA). This move further cements LCX’s position as one of the first regulated exchanges in Europe, aiming to meet these upcoming regulations.
LCX is preparing for the new MiCA rules, which will start in Liechtenstein on February 1, 2025. This license will allow LCX to operate in 30 countries in the European Economic Area, including the EU, Iceland, Liechtenstein, and Norway, with a population of about 450 million.
The exchange takes compliance seriously, having been registered as a Crypto Assets Service Provider (CASP) under the Liechtenstein authority since 2020. LCX also holds more registrations under the country’s Blockchain Laws and the Trusted Technology Service Provider Act than any other company. It could be said that LCX is well-prepared to operate under the forthcoming MiCA regulation, having met the strict Liechtenstein regulatory standards.
Monty C. M. Metzger, CEO of LCX, said applying for the preliminary MiCA license is a key step in the company’s growth and shows its commitment to following rules. He also mentioned LCX has been a leader in crypto regulation. The CEO stated:
“Filing for the preliminary MiCA license is a pivotal step in our growth strategy and reflects our long-standing commitment to regulatory excellence. We have always been a leader in driving compliance within the crypto industry, and this move will enable us to continue delivering innovative, compliant, and secure services to become the leading crypto exchange in Europe. People are proud of having an account at LCX”
The detailed process through which LCX complied with Liechtenstein regulations demonstrates its proactive approach to smoothly transitioning to MiCA. Formal applications for the MiCA license in Liechtenstein can only be made starting February 1, 2025, when the MiCAR rules take effect. MiCA offers clear regulations while supporting innovation in Bitcoin, digital assets, and blockchain technology.
New Features Enhance Security and Fund Management on LCX Platform
The exchange, founded in 2018, has added a new feature to its platform that will further simplify and secure fund management. The Address Management feature allows users to create a Whitelisted Address Book to store trusted wallet addresses for secure withdrawals, eliminating the risk of errors from copy-pasting addresses. The new addition also ensures that users can withdraw funds only to pre-approved addresses, safeguarding their assets. LCX stated:
“This feature simplifies fund management, reduces mistakes, and adds an extra layer of protection against unauthorized withdrawals. It’s one more way LCX prioritizes your safety while enhancing your experience”
LCX has also been expanding its offerings by listing new tokens on its platform, such as AIOZ, USUAL, BRETT, MOVE, and SERV, providing users with more options for trading.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor’s and master’s degrees in linguistics. When not writing, he trades forex and plays video games.
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