Bullish Crypto Exchange Bullish’s European Arm Secures Coveted German MiCA License

Bullish cements EU foothold with regulatory milestone

Germany's financial watchdog just handed Bullish's European subsidiary its MiCA ticket—the crypto industry's golden standard for continental operations. This isn't just another compliance checkbox; it's a strategic power move into Europe's largest economy right as regulatory clarity hits mainstream finance.

Market access unlocked

The license lets Bullish operate across all 27 EU member states without jumping through national hoops—a regulatory arbitrage play that traditional finance would kill for (if they understood blockchain enough to stop calling it 'the crypto').

Timing is everything

With MiCA's full implementation looming, Bullish positioned itself ahead of the compliance curve while legacy institutions are still trying to figure out how to custody digital assets without getting hacked.

Because nothing says 'serious player' like German regulatory approval—even if traditional bankers still think MiCA is a new coffee pod system.

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The IT sector bore the brunt of selling pressure, with the Nifty IT index declining 1.5 per cent amid swirling speculation about potential tariff implications. “Clients are holding back large AI spends given the rapid pace of change in the technology,” noted market participants, citing concerns following UK-listed competitor Endava’s disappointing results that saw its stock tank 30 per cent on revenue guidance of 5-6 per cent decline year-on-year.

Among IT losers, HCL Technologies led the decline, falling 1.61 per cent to ₹1,420.10, followed by Tata Consultancy Services which dropped 1.54 per cent to ₹3,048.00, and Tech Mahindra down 1.49 per cent to ₹1,478.00. The sector’s weakness was compounded by the rupee’s decline to fresh lows against the dollar.

In contrast, auto stocks emerged as the session’s standout performers following reduced GST rates for vehicles. Eicher Motors topped Nifty gainers with a surge of 2.41 per cent to ₹6,580.00, while Mahindra & Mahindra jumped 2.34 per cent to ₹3,562.90. Maruti Suzuki gained 1.64 per cent to ₹14,903.00, with the Nifty Auto index rising 1.25 per cent overall.

“Auto stocks outperformed, rising over 1 per cent on Optimism following reduced GST rates for vehicles,” said Ajit Mishra, SVP Research at Religare Broking, highlighting how automobiles emerged as one of the biggest beneficiaries of GST 2.0 reforms.

Consumer goods stocks also faced pressure, with ITC declining 1.92 per cent to ₹407.90 and Cipla falling 1.69 per cent to ₹1,551.10. The Nifty FMCG index lost 1.4 per cent due to profit-taking after a five-day winning streak.

Market breadth remained neutral with 2,134 stocks advancing against 1,957 declines on BSE, while 135 stocks hit 52-week highs compared to 64 touching lows. The broader markets showed resilience with Nifty Midcap 100 gaining 0.20 per cent to 57,075.20 and Small Cap indices rising 0.19 per cent.

“Following heavy selling pressure in the early hours, the indices staged a gradual recovery during the second half, led by strength in heavyweight Reliance Industries,” observed Sudeep Shah, Head of Technical Research at SBI Securities, noting that post-GST Council meeting, investor sentiment remained mixed with profit-booking in select sectors.

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The rupee continued its downward trajectory, weakening to 88.25 against the dollar, down 0.13 paise. “Persistent FII selling pressure for the past several months has continued to add to the rupee’s devaluation trend. With external headwinds dominating, rupee is expected to remain volatile in the range of 87.90 – 88.50,” said Jateen Trivedi, VP Research Analyst at LKP Securities.

Gold prices provided some respite for commodity investors, gaining ₹300 to ₹1,06,700 on MCX as markets positioned ahead of US employment data. “Investors remain focused on the Fed’s September meeting where rate cuts are anticipated, while ongoing tariff uncertainties are fueling safe-haven demand,” Trivedi added.

On the weekly front, sectoral rotation was evident with Nifty Metal emerging as the top performer with gains of 5.75 per cent, followed by Nifty Auto at 5.45 per cent. “On a weekly basis, Nifty Metal and Nifty Auto were the standout performers among the sectoral indices,” confirmed Shah.

Bank Nifty managed modest gains of 0.07 per cent to close at 54,114.55, while Nifty Financial Services ROSE 0.14 per cent to 25,889.30. The Nifty Next 50 declined 0.09 per cent to 67,089.80.

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Technical analysts remained cautiously optimistic about near-term prospects. “From a technical perspective, the Nifty continues to remain range-bound, as reflected in momentum indicators, with the daily RSI currently at 49.39,” noted Shah, identifying support at 24,620 followed by 24,500, while resistance stands at 24,840 and 24,980.

Looking ahead, market participants expect continued consolidation with stock-specific action dominating sentiment. “In the coming week, Nifty is likely to consolidate in the range of 24,400-25,000 amid stock-specific actions,” predicted analysts at Bajaj Broking, while cautioning about persistent foreign institutional outflows and global trade uncertainties that could weigh on market sentiment in the near term.

Published on September 5, 2025