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Ripple, the company behind the XRP ($XRP) token, has obtained preliminary approval as a Crypto Asset Service Provider — known as a CASP — in Luxembourg, positioning itself ahead of the European Union's July 1 licensing deadline under the Markets in Crypto-Assets regulation.
The approval makes Ripple part of a broader scramble among crypto firms to secure legal standing in the EU before the framework's compliance cutoff arrives.
What MiCA Actually Requires Markets in Crypto-Assets, or MiCA, is the EU's comprehensive regulatory regime for crypto businesses operating across its member states.
A CASP license is the credential that regime demands of companies offering services such as trading, custody, or exchange of digital assets to European customers.
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