On July 17, cryptocurrency payment company BitPay announced that it has received approval from the Dutch Authority for the Financial Markets (AFM) to obtain a crypto asset service provider license, allowing it to operate in EU member states under the regulatory framework of the crypto asset market. BitPay stated that this license will support the company's expansion of crypto payment and stablecoin payment services in Europe. According to relevant requirements, as of July 1, all entities providing crypto-related services must be regulated. Jonathan Arler, BitPay's Head of Europe, stated that Europe is one of the most important regions for the future development of payments. Previously, Ripple announced that it had received a crypto asset service provider license from the Luxembourg financial regulator.
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