Virtu Financial secures MiCA license ahead of EU's June 30 crypto deadline

Virtu Financial secured a MiCA license to serve institutional crypto clients across the EU as the June 30 compliance deadline approaches.

Virtu Financial Inc. obtained a Markets in Crypto-Assets license for its Irish subsidiary, enabling the New York-based market maker to offer regulated digital asset services across all 27 EU member states as the bloc's June 30 transitional deadline nears.

"This authorization reflects our commitment to operating within clear regulatory frameworks and serving institutional clients who demand compliance," a Virtu Financial spokesperson said. The company announced the license on June 2.

Virtu Financial Ireland Ltd. received the authorization from Irish regulators under MiCA's passporting mechanism, which allows a single license to cover operations across the entire European Economic Area. The firm already holds a MiFID II license for derivatives trading, granted in March 2025, and a Payment Institution license covering Virtu Card and Virtu Pay, issued in February 2026.

The license arrives as European regulators intensify enforcement. France's Autorité des Marchés Financiers warned on May 28 that crypto platforms must secure full MiCA authorization by June 30 or face public blacklisting and legal proceedings. The European Securities and Markets Authority confirmed in December 2025 that any unlicensed exchange must exit the EU market entirely by July 1.

MiCA's Compliance Mandate Reshapes European Crypto Market

Of the roughly 90 registered digital asset service providers in France that lacked MiCA authorization as of January, only 30 percent had submitted an application, according to AMF data. A full 40 percent said they do not plan to apply, and the remaining 30 percent did not respond to the regulator's inquiries. AMF President Marie-Anne Barbat-Layani said companies that fail to obtain a license must have "orderly wind-down plans" to offload customers and cease operations.

MiCA requires licensed exchanges to segregate client assets from operational funds under Article 70 of the regulation, maintain minimum capital reserves, and comply with cybersecurity standards equivalent to those applied to traditional banks. The Transfer of Funds Regulation, effective Dec. 30, 2024, also mandates that licensed exchanges collect and transmit sender and recipient information on crypto transfers, mirroring wire transfer rules in traditional banking.

Institutional Traders Gain a Compliant Gateway

Virtu's entry into the regulated crypto space follows OKX Europe Ltd., which received full MiCA authorization from Malta's Malta Financial Services Authority on Jan. 27, 2025, becoming one of the first global exchanges to passport services across 28 EEA countries covering more than 400 million people. Unlike OKX, which operates a retail-facing exchange, Virtu focuses on institutional liquidity provision across multiple asset classes, positioning it to capture a share of the growing institutional crypto trading flow under a compliant framework.

The convergence of traditional finance and digital assets is accelerating as more regulated entities enter the market. Virtu's MiCA license, combined with its existing MiFID II and payment licenses, places the firm under the same regulatory standards applied to traditional financial institutions — a structure that may appeal to pension funds, asset managers, and hedge funds seeking crypto exposure without regulatory risk.

This article is for informational purposes only and does not constitute investment advice.