Key Takeaways
- • Acheron Trading, a crypto hedge fund and market maker, has secured a Crypto-Asset Service Provider (CASP) license under the EU Markets in Crypto-Assets Regulation (MiCA) from the Dutch Authority for the Financial Markets (AFM).
- • The firm is described as the first dedicated CASP-licensed market maker under the MiCA regime, which took effect on 30 December 2024.
- • The authorisation will be recorded in the public registers maintained by the AFM and the European Securities and Markets Authority (ESMA).
- • CEO Laurent Benayoun characterized MiCA as the first unified regulatory framework for crypto and said Acheron is pursuing licenses in other jurisdictions.
Summary
Acheron Trading, a crypto hedge fund and market making firm, has obtained a Crypto-Asset Service Provider (CASP) license under the Markets in Crypto-Assets Regulation (MiCA) from the Dutch Authority for the Financial Markets (AFM), according to Hedgeweek. The authorisation will be included in the public registers held by the AFM and the European Securities and Markets Authority (ESMA). The license makes Acheron the first dedicated market maker to secure a CASP license under the new EU regime.
Since MiCA came into effect on 30 December 2024, only a few crypto companies have received CASP licenses from the AFM, and no dedicated market maker had previously obtained one from any European regulator, the article notes. The source emphasizes the importance of market makers to token price discovery and to the functioning of crypto asset markets, arguing that their licensing is significant for Europe-based projects.
CEO Laurent Benayoun said Europe has seen steady crypto adoption among retail, corporate, and institutional investors, making it a strategic market for the firm and for market makers more broadly. He described MiCA as the first unified regulatory framework for crypto, positioning Europe as a first mover, and said he looks forward to more licensed service providers, especially exchanges, entering the market in the coming months.
The approval comes less than a year after Acheron appointed Daniel Lo as Chief Legal Officer, whom the company credits with being instrumental in the licensing process. According to a press statement, Acheron is actively pursuing licenses in other jurisdictions.
Since MiCA came into effect on 30 December 2024, only a few crypto companies have received CASP licenses from the AFM, and no dedicated market maker had previously obtained one from any European regulator, the article notes. The source emphasizes the importance of market makers to token price discovery and to the functioning of crypto asset markets, arguing that their licensing is significant for Europe-based projects.
CEO Laurent Benayoun said Europe has seen steady crypto adoption among retail, corporate, and institutional investors, making it a strategic market for the firm and for market makers more broadly. He described MiCA as the first unified regulatory framework for crypto, positioning Europe as a first mover, and said he looks forward to more licensed service providers, especially exchanges, entering the market in the coming months.
The approval comes less than a year after Acheron appointed Daniel Lo as Chief Legal Officer, whom the company credits with being instrumental in the licensing process. According to a press statement, Acheron is actively pursuing licenses in other jurisdictions.
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