Qivalis wins Dutch EMI license, but MiCA rules block launch

Qivalis has secured a Dutch Electronic Money Institution (EMI) license, but the company says it cannot launch until it satisfies MiCA requirements and publishes a white paper. Issuance is planned for the coming months, contingent on those regulatory steps. The news is company-specific and does not directly affect major crypto assets, though it highlights how MiCA compliance remains a gating factor for new European issuers.