Venga Takes Proactive Steps Toward EU Compliance with MiCA Pre-Application

Key highlights:

• Venga has submitted its pre-application for the EU's Markets in Crypto-Assets (MiCA) license to Spain’s CNMV.
• This proactive step ensures compliance and a smoother transition ahead of the December 2025 regulatory deadline.
• MiCA aims to harmonize crypto regulations across Europe, boosting industry transparency and security.

What is happening?

Venga, a Barcelona-based crypto startup, has officially submitted its pre-application for the Markets in Crypto-Assets (MiCA) license to Spain’s national financial regulator, CNMV. This move positions Venga as one of the early adopters of MiCA regulations, which aim to harmonize the crypto industry across the European Union.

The MiCA framework came into effect on December 31, 2024, providing a transitional period for existing Crypto-Asset Service Providers (CASPs) to operate under national licenses until December 31, 2025. By engaging early, Venga is ensuring compliance well ahead of the deadline, while refining its internal systems to meet stringent new standards.

Why does it matter?

MiCA is set to introduce uniform rules for CASPs across the EU, including stricter requirements around anti-money laundering (AML), market integrity, and customer transparency. Venga’s proactive approach underscores its focus on adhering to regulatory standards and building trust within the crypto ecosystem.

"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." —Venga CEO Michael Stroev

What are the benefits of pre-application?

The MiCA pre-application phase allows crypto companies to work closely with regulators to identify and address potential gaps in compliance. This "experimental period" reduces the risk of delays or denials during the formal application process and ensures smoother transitions to full compliance.

"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." —Ana Carolina Oliveira, Venga's Chief Compliance Officer

What is Venga’s role in the crypto ecosystem?

Founded in 2023, Venga offers a mobile platform that simplifies access to Web3 services such as decentralized finance (DeFi), crypto trading, and staking. Designed to cater to beginners, the app aims to make blockchain technology more accessible to everyday users.

A MiCA license will enable Venga to expand its offerings across the EU while cementing its position as a trusted player in the European crypto market.

Bottom line

Venga’s submission of its MiCA pre-application marks a critical step in its regulatory journey, showcasing the importance of early compliance in the fast-evolving crypto sector. With this move, Venga is not only preparing for the future of EU crypto regulations but also setting an example for other providers navigating the MiCA landscape.

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