The interview was conducted in English and translated into German.
BTC-ECHO: Congratulations on the BaFin license. Obtaining such a license is considered very difficult and time-consuming. Why did you as a Dutch crypto broker decide to take a long and difficult road to obtain the license?
Bram Celen: We knew it would be a time-consuming and difficult process, but we still made the decision to apply for the license. BaFin has set the standards for regulation and compliance in Europe to the highest level. And we are committed to playing at the highest level. That’s what it’s all about Anycoin Direct It means our commitment to a safe environment where customers’ investments are treated with the utmost care and transactions comply with strict regulatory standards.
And how long did it take overall to receive this?
It was a two-year learning process.
What was the biggest challenge for you? Can you tell us more about the process?
One of the biggest challenges was navigating the complex regulatory landscape and ensuring that every aspect of our business meets BaFin’s strict standards. During the process of applying for our license, certain external factors changed the crypto sector and together with BaFin we did a good job of adapting to this. Holding yourself to the highest standards while the news is dominated by bad actors is sometimes challenging, but the reward for getting the license was all the greater.
What role does the German crypto custody license play in the context of the European regulation, MiCA, which comes into force in two stages this year?
Obtaining the German crypto custody license, which is based on groundbreaking EU regulations, plays a crucial role for us in shaping our processes, especially with regard to the upcoming implementation of MiCA. With this license, Anycoin Direct must adapt to MiCA’s standards, but there are only minor differences.
Adapting to the MiCA framework gives us the advantage of being able to fit seamlessly into the broader EU regulatory landscape. This adjustment not only ensures compliance, but more importantly means that our clients can rely on us for uninterrupted, compliant exchange and custody services. They do not need to look for alternative platforms or transfer their funds as the continuity and security of their crypto transactions is guaranteed with Anycoin Direct.
How do you think MiCA will change the crypto landscape in the EU? Will it lead to more dynamism and competition?
MiCA will take the crypto landscape in the EU to a new level by introducing a harmonized legal framework. Investor confidence will be strengthened and the industry will gain greater clarity and legitimacy. By simplifying compliance, MiCA could attract new customers or other service providers, driving industry adoption and growth. We believe that the transition to a regulated, more transparent market could promote the overall growth and maturity of the crypto sector in the EU.
Besides Germany and your home market, the Netherlands, what is the most important sales market for you?
Bas Lamers: We are officially registered with the German BaFin, the Austrian FMA and the Dutch DNB, so these three markets are of course very important for us. But that doesn’t mean we only focus on these three countries. Our website is localized in six different languages, and we plan to add more languages in the future to make our platform accessible to everyone in Europe.
Compared to some competitors such as Coinbase, you are a rather small player. What is your strategy to survive against these players?
Everyone is welcome at Anycoin Direct. Our focus is on the simplest possible processes that enable a smooth user experience. We do the work for you, are completely transparent, and offer an experience where anyone can buy a coin in seconds. We also rely on informative content and have supportive customer service representatives who can be reached directly via live chat. No chatbots, just personal support and direct answers. This, combined with our personal support and approach, sets us apart from the competition.
Prices have been rising sharply again since the end of October last year. Do you also see this interest in increased trading volumes for you?
Of course, this is the nature of the crypto market. When prices rise sharply, trading volume also increases. This has been seen throughout the ETF saga and will increase exponentially when the bull market really gets going. This phenomenon can be seen across the entire market, from our platform to Google Trends.
How optimistic are you for 2024 that we will see sharply rising prices for Bitcoin and Co.? What are the decisive influencing factors for you?
We are very optimistic about the future of cryptocurrency and 2024. There are a number of parameters that could have a positive impact on the sector. To name a few: Bitcoin ETFs and emerging altcoin ETFs, improving macroeconomic factors, geopolitical events, and regulatory developments all play an important role in creating more positive market sentiment and public perception. In addition, we believe that an important milestone will be created in 2024 with the upcoming Bitcoin Halving, which will provide additional stimulus.
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