Over 50 Institutions Obtain Regulatory Approval Under EU’s MiCA Framework in First Six Months
More than 50 institutions, including major stablecoin issuers and crypto service providers, have received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework within the first six months of the regulation.
Circle executive Patrick Hansen recently shared data from the European Securities and Markets Authority (ESMA), revealing that 53 entities have secured MiCA licenses just six months after the framework came into force.
These licenses allow firms to “passport” their services across 30 European Economic Area (EEA) countries without needing additional approval in each jurisdiction, marking a significant milestone for digital asset compliance in the region.
Authorized Stablecoin Issuers
Fourteen firms have been authorized to issue stablecoins or e-money tokens (EMTs) across seven EU countries. Notable licensed issuers include Circle, Crypto.com, Societe Generale, Stablemint, Quantoz, and StablR.
These firms have introduced 20 fiat-backed stablecoins, with 12 pegged to the euro, seven tied to the US dollar, and one denominated in the Czech koruna. Notably, Tether, the issuer of USDT, is currently not compliant with MiCA requirements and has been delisted from several EU-based exchanges.
MiCA-Licensed Crypto Trading Platforms
Thirty-nine crypto-asset service providers (CASPs) have received MiCA licenses, distributed across various EU/EEA countries, including Germany, the Netherlands, Malta, and France. Germany leads with 12 licenses, followed by the Netherlands with 11 and Malta with 5.
Licensed CASPs include a mix of traditional financial institutions, fintech companies, and crypto-native businesses such as BBVA, Robinhood, Coinbase, Kraken, and OKX. Notably, Binance, the largest crypto platform, is not on the list but has recently made efforts to comply with regulatory requirements in Europe.