B2C2 Gains Luxembourg Virtual Asset License as EU's Crypto Rules Set to Kick In

B2C2 Gains Luxembourg Virtual Asset License as EU's Crypto Rules Near Implementation

B2C2, a leading liquidity provider, has secured approval to operate in Luxembourg as a Virtual Asset Service Provider (VASP), marking another significant step in its European expansion. This comes six months after the London-based firm gained a license to operate in France.

The approval from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) allows B2C2 to offer over-the-counter (OTC) spot crypto services to institutional clients. The company becomes the 12th VASP to be registered on CSSF’s public register. B2C2 had already secured a license from France’s Autorité des Marchés Financiers (AMF) following its acquisition of Paris-based Woorton in August of last year.

This expansion comes as the European Union prepares to implement its Markets in Crypto Assets (MiCA) regulation later this year. Once in effect, the EU will become the first major jurisdiction to introduce comprehensive and tailored rules for the cryptocurrency sector, solidifying its position as a global leader in digital asset regulation.

Former Bank of England supervisor Denzel Walters will head B2C2’s Luxembourg team, while the company recently appointed Thomas Restout as CEO.

“As we prepare for the implementation of MiCA regulation, securing VASP registration in Luxembourg is a crucial milestone for B2C2. Luxembourg is home to a rapidly growing virtual asset community,” Restout said in a press release.

B2C2 was acquired by Japan’s SBI Holdings in 2020, making it the first major financial group to own a crypto trading firm.