As you may know, Byecoin has been working for some time to obtain a MiCAR license from the AFM. Currently, Byecoin is registered with De Nederlandsche Bank (DNB), but to continue offering our services in compliance with European regulations in the future, we are in the process of obtaining this new license.
The MiCAR license is derived from the European regulation Markets in Crypto-Assets Regulation (MiCA). This legislation ensures that crypto companies operating within the European Union follow clear and uniform rules.
This includes:
Clear guidelines and regulatory oversight
Enhanced protection for customers
Transparent and reliable operations
The ability to operate across all EU countries with a single license
With this license, we fully comply with European regulations under the supervision of the AFM and take an important step toward building a stable and future-proof organization.
The MiCAR licensing process consists of three phases.
Byecoin is currently in the second phase.
During this phase, the AFM reviews our organization, processes, and operations in detail. This is a standard part of the licensing process. During this review period, a few temporary measures are in place.
At this time, there are two temporary measures affecting our services:
During the ongoing MiCAR process, we are temporarily unable to onboard new customers. Our services are therefore currently available only to existing customers.
Once we have obtained the MiCAR license, we will be able to welcome new customers again.
Following discussions with the AFM, we have proactively chosen to temporarily disable this functionality. We are currently awaiting further developments so that we can resume this service. Your account and the crypto you have already purchased will remain accessible, and the wallet functionality in our app will continue to operate as normal.
Once the MiCAR licensing process is completed, we will continue our services as usual — with the major advantage of being fully MiCAR-licensed.
This strengthens our position in the Netherlands and also opens opportunities to further expand our services across Europe in the future.
We are committed to navigating this process carefully and successfully, and we will keep you updated via our website on any developments.
We greatly appreciate your patience and understanding during this process and thank you for your trust in Byecoin.
Once we are operational again, we will clearly communicate this via our website, newsletter, and in-app notifications.
