European Crypto App Venga Submits Pre-Application for MiCA License

Venga, a multi-purpose cryptocurrency application, has shared the details of its preliminary filing with the EU regulator. With a potentially approved MiCA license, the exchange will be able to offer industry-leading levels of regulatory compliance to its new and existing clients.

EU crypto app Venga submits preapplication for MiCA license: What to know

Today, Jan. 29, 2025, Venga, the European crypto app, announces it has submitted a preapplication for the Markets in Crypto-Assets (MiCA) license. The document has been filed with Spain's national competent authority, the CNMV, reflecting Venga’s strategic vision and recognition of the benefits associated with early adoption.

The preapplication phase facilitates an "experimental period" during which companies like Venga can engage with regulators to receive feedback and refine their applications.

This cooperative environment allows applicants to address potential deficiencies before formal evaluation, reducing the risk of application denial and ensuring smoother transitions to full compliance. By taking these early steps, Venga also mitigates the risk of bottlenecks closer to the December 2025 deadline, ensuring it is well positioned to secure its MiCA license in a timely manner.

Venga's CEO, Michael Stroev, highlights that adherence to European legal frameworks is among the top priorities of his company’s strategy:

We have had a compliance-first approach from day one, which has already resulted in Venga successfully obtaining Virtual Asset Service Provider (VASP) registrations in Spain and Poland. The next step is to secure the MiCA license, enabling us to market our services across the entire EU, which will allow more Europeans to discover and access new blockchain innovative products and services through Venga.

MiCA officially came into effect on Dec. 31, 2024, introducing a harmonized regulatory framework for the crypto sector across the European Union. Under its provisions, Crypto-Asset Service Providers (CASPs) in Spain can operate under existing national licenses during a transitional period ending on Dec. 31, 2025.

Stringent AML checks for better Web3

Venga's Chief Compliance Officer, Ana Carolina Oliveira, adds that the submitting of the preapplication to the EU watchdog goes far beyond simply following the changing rules of crypto regulation:

We are committed to ensuring that Venga becomes a leader in regulatory excellence by maintaining robust internal policies and investing in advanced compliance technologies. MiCA is not only about a license. It is about implementing solid internal procedures to ensure strict AML policies, prevent market manipulation, guarantee prudential safeguards and transparency in the communication with customers and the regulators.

With its clear UX/UI, powerful tooling and multi-currency support, Venga helps European digital asset users to transact in secure and cost-efficient ways.

Also, it allows Europeans to leverage Web3 services, including decentralized finance (DeFi), cryptocurrency trading and staking.