MiCAR: What is it and what does it mean for you?

Markets in Crypto-Assets Regulation

On 30 June 2024, the Markets in Crypto-Assets Regulation, or MiCAR, came into effect within the European Union. A law that ensures that the same rules apply to crypto providers in all EU countries. Handy, because this way you as a user know even better what to expect.

As a crypto asset service provider, BLOX must have a MiCAR license. In order to obtain this license, BLOX has submitted a license to the Netherlands Authority for the Financial Markets (AFM). As of October 1 2025, this license has been officially obtained.

Thanks to this license, the AFM and De Nederlandsche Bank (DNB) supervise BLOX under the rules of MiCAR. The AFM mainly focuses on BLOX’s conduct and whether the rules are properly followed to protect your interests as a user. DNB monitors BLOX’s financial health: whether we operate in a stable and responsible way. Together, these regulators ensure that BLOX operates reliably and financially sound, safeguarding both your interests and the stability of the crypto market.

In order to protect your interests as a user of BLOX, BLOX has implemented the necessary measures:

What does MiCAR mean for you?

MiCAR not only brings changes for BLOX, but also for the way we communicate with you. These are the main adjustments you, as a user, will notice:

• Because the obligations for BLOX have changed, we have adjusted part of our user agreement.
• We have moved the management and storage of your euros and crypto to a foundation established for this purpose: Stichting BLOX Custody.
• Your crypto is securely held in the foundation. If something still goes wrong due to an error by BLOX, we will take responsibility and compensate your loss up to the market value of your crypto at that moment.
• We have stopped offering Staking and Lending. Instead, there is now one yield service (BLOX Verdien) through which you can make your crypto available to a third party in exchange for returns.
• There is more transparency about how we operate. You have insight into things like our pricing policy, possible conflicts of interest, and how certain cryptos work. We also offer you the possibility to view our custody policy upon request. This way, you better understand where you stand and can continue to make well-informed decisions.
• The option to trade up to €250 without full ID verification has been removed. That’s why we now verify the identity of all users based on a valid ID.
• BLOX has a clear complaints procedure, in which your complaints are investigated and handled by our complaints officer in a quick, fair, and consistent manner.
• Finally, we have published certain information, such as our transaction volumes and rates from transactions carried out by BLOX.

Do you have questions or want to learn more? Don’t hesitate to contact us, we’re happy to help!