AK Jensen AS (AKJ) reports that the company has received MiCA authorisation from the Norwegian Financial Supervisory Authority, becoming the first player in Norway to operate under the new European regulatory framework for crypto-assets.
Anders Kvamme Jensen (pictured) is founder, CEO and Chairman of AKJ.
With MiCA in place, in addition to existing AIFMD and MiFID licenses, AKJ gains a coherent framework for both traditional and digital assets aimed at the European market. AKJ thus positions itself at the intersection of traditional asset management and regulated digital assets.
For professional and institutional clients, this means that crypto and digital products are more widely offered within the same regulatory framework as established financial instruments, with governance, risk management and reporting requirements at the European level.
AIFMD, which stands for Alternative Investment Fund Managers Directive, and regulates managers of alternative investment funds (not the funds themselves). Whereas MiFID, the Markets in Financial Instruments Directive, regulates investment services and trading in financial instruments (securities, etc.).
According to the AKJ, the approval is the result of extensive work on governance, risk control and operational infrastructure, where the ambition has been to build a flexible set-up that can adapt to a rapidly changing financial market. The MICA authorization provides increased clarity around current crypto activities, while facilitating new initiatives in digital assets and tokenized products, with clearer investor protection and compliance requirements.
The AKJ's approval is based on MICA's Section 60, which regulates securities undertakings. Also Stack by Me has submitted notification to the Swedish Financial Supervisory Authority for securities firms, while the lion's share of applicants are crypto exchanges or brokers, who want to obtain a license such as Casp, Crypto asset Manger. The FSA is currently processing six applications for permits from, among others, Tyr Markets AS, Firi AS, K33 Markets AS, NBX, Fjord Estate AS and Bare Bitcoin AS. JuJu has also told Kaupr that they will take advantage of the transition period to submit their application.
The government and the Swedish Financial Supervisory Authority extended the pre-Christmas transition scheme for crypto providers in Norway until June 30, 2026, because the application processes after MiCA proved more extensive than first thought. The FSA considered that an extension was necessary to ensure proper proceedings and avoid operational disruption for market participants already registered.
In practice, this means that Norwegian crypto exchanges can continue operating under the current national regime until the MICA applications are processed, while increasing pressure to adapt to a much stricter, harmonized European regulatory framework.
