LCX Authorization Delayed as Bitcoin ETFs Post Second Straight Outflow

LCX AG has applied for authorization as a crypto-asset service provider under MiCA (EU 2023/1114), but its application is still under review by the Financial Market Authority (FMA) Liechtenstein.

In the meantime, LCX does not offer crypto-asset services to persons in the EEA pending authorization and existing EEA clients are limited to withdrawals during the wind-down process.

Despite this limitation, Bitcoin ETFs have posted a second straight outflow, while other major funds have turned green. The situation highlights the ongoing challenges faced by investors in the cryptocurrency market.