BitGo offers MiCA compliance service for European crypto firms

As the deadline approaches for European crypto companies to obtain licenses under the Markets in Crypto-Assets (MiCA) regulation, BitGo is offering a service to help firms meet the new requirements, CoinDesk reported. BitGo Europe, which is licensed by Germany's Federal Financial Supervisory Authority (BaFin), explained that its "Crypto-as-a-Service" platform provides an alternative for crypto companies across Europe to manage regulatory compliance. The service is designed to reduce the burden on companies of having to build their own compliant operating systems from scratch. However, clients must still conduct their own Know Your Customer (KYC) procedures that align with MiCA rules. BitGo also plans to help eligible companies use its infrastructure while they continue to pursue their own licenses as a MiCA-based Crypto-Asset Service Provider (CASP).