NAGA Group announced June 24 that its European entity NAGA X Ltd has secured full authorization under the EU’s Markets in Crypto-Assets Regulation, becoming one of the latest firms to cross the finish line before MiCA’s critical July 1 deadline. After that cutoff, any crypto service provider operating in the EU without proper licensing must cease operations or face enforcement action. The approval allows NAGA to continue offering crypto buying, selling, trading, and custody services to European clients under the bloc’s new harmonized regulatory framework.
CEO Octavian Patrascu framed the license as validation of the company’s compliance infrastructure. NAGA, which has offered crypto services for years alongside traditional trading products, joins a surge of brokers and exchanges racing through national regulators to maintain EU market access. The company’s broader strategy centers on its Naga One superapp launched late 2024, combining trading, payments, and digital assets for over 2.5 million registered users globally.
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** Firms still serving EU crypto clients without MiCA authorization face immediate operational risk with just days remaining before mandatory shutdown.
Source: Finance Magnates