The European Union has granted a total of 53 licenses under its MiCA (Markets in Crypto-Assets) regulatory framework, marking a major step toward harmonized crypto oversight across the region.
This includes 14 authorized e-money token (EMT) issuers and 39 MiCA-licensed crypto-asset service providers (CASPs).
The 14 EMT issuers originate from seven EU member states and are collectively issuing 20 fiat-backed stablecoins: 12 pegged to the euro, 7 to the U.S. dollar, and 1 to the Czech koruna. Leading names include Circle, Société Générale – Forge, Membrane Finance, and Crypto.com. These approvals aim to standardize stablecoin compliance under MiCA and expand consumer trust in digital euro and dollar equivalents.
Meanwhile, 39 CASPs have secured full MiCA licenses, allowing them to operate across the entire European Economic Area (EEA). Countries like Germany (12 firms), the Netherlands (11), and Malta (5) dominate the approvals. The list includes a blend of traditional financial institutions (e.g., BBVA, Clearstream), fintech platforms (eToro, N26), and major crypto exchanges (Coinbase, Kraken, Bitstamp, OKX).
Despite the progress, the MiCA rollout has revealed regulatory blind spots. No asset-referenced token (ART) issuers have been approved, indicating tepid market interest in non-fiat-backed assets. About 30 whitepapers have been filed under MiCA Title II for major assets like BTC and ETH, reflecting increasing institutional alignment with crypto regulation.
At the same time, over 35 firms are flagged as non-compliant—many by Italy’s CONSOB. Transition periods have ended in multiple jurisdictions, including Finland, Poland, and the Netherlands, where the Dutch AFM is leading license issuance. With MiCA enforcement underway, firms are racing to gain approval and passport their services across 30 EEA states.
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