Story
Utorg Secures MiCA License as New EU Crypto Regulations Take Effect
Summary
Crypto platform Utorg has received full authorization under the EU's Markets in Crypto-Assets (MiCA) regulation. The license comes as the July 1 deadline forces many unauthorized crypto service providers to exit or restrict operations in the European market.
Utorg, a crypto wallet and card platform, announced it has received full authorization under the European Union’s Markets in Crypto-Assets (MiCA) regulation. The license is effective July 1, 2026, the same day the industry's transitional period ends, after which unauthorized providers can no longer legally serve users in the European Economic Area (EEA). The company is now cleared to operate across all 29 EEA member states, a market of over 450 million people.
MiCA is the EU’s first unified regulatory framework for crypto-assets, creating binding standards on consumer protection, transparency, and financial integrity. For users, the regulation requires that platforms hold customer funds separately from company assets, disclose fees upfront, and provide a legal path for complaints to national regulators. Utorg’s authorization followed a full regulatory review of its products, operations, and compliance infrastructure.
The July 1 deadline marked a significant shift in the European crypto landscape, with numerous firms withdrawing or limiting their services in the region ahead of the new rules. According to the company's announcement, Utorg is one of a small number of platforms to have completed the full authorization process, allowing it to be operational from the first day of the new regulatory regime.
Ad“Most of the industry spent the last two years hoping MiCA would get delayed or softened. We spent it building toward it,” said Eugene Petrakov, Co-founder of Utorg. “For European users, July 1 means fewer options, stricter standards, and a much shorter list of platforms they can actually trust. We intend to be at the top of that list.”
Following the authorization, Utorg will continue to offer its full product suite to EEA residents, including its non-custodial crypto wallet and a crypto card. The company noted that its card services operate under strict Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements and that it holds a PCI DSS Level 2 certificate for data security.