The European Union has authorized 53 crypto-related firms to operate under its landmark Markets in Crypto-Assets (MiCA) regulation, six months after the framework came into full effect.
The approvals mark a major milestone in the bloc’s effort to establish a single, harmonized rulebook for digital assets across its 30-country economic area.
According to a July 7 update from Patrick Hansen, Director of EU Strategy & Policy at stablecoin issuer Circle, the latest data includes 14 licensed issuers of electronic money tokens (EMTs) and 39 crypto-asset service providers (CASPs).
These companies can now legally offer services across the EU through regulatory “passporting,” eliminating the need to obtain licenses in each member state.
The 14 stablecoin issuers are based in seven EU countries: France, Germany, Malta, the Netherlands, Czech Republic, Finland, and Lithuania.
Collectively, they are authorized to issue 20 fiat-backed tokens, including 12 pegged to the euro, seven to the U.S. dollar, and one to the Czech koruna. Malta and the Netherlands are among the most active jurisdictions, with three EMT issuers each.
The list of 39 licensed CASPs spans nine countries, led by Germany with 12 and the Netherlands with 11.
The approved firms represent a cross-section of the industry, including traditional financial institutions such as BBVA, Clearstream and CACEIS; fintech players like N26, eToro, and Robinhood; and crypto-native firms such as Coinbase, Kraken, Bitpanda, OKX, and Bitstamp.
MiCA officially came into force on December 30, 2024, establishing the world’s first comprehensive legal framework for crypto-assets.
The law covers licensing requirements, consumer protection, and disclosures for both service providers and token issuers. It also includes specific provisions for stablecoins and asset-referenced tokens (ARTs).
To date, however, no ART issuers have been authorized, signaling what Hansen described as a “clear lack of market demand” for these instruments.
Additionally, around 30 whitepapers have been filed under MiCA’s Title II framework for major crypto-assets such as Bitcoin and Ethereum, reflecting growing interest in regulatory-compliant token listings.
Regulatory enforcement is ramping up as well. More than 35 firms have been flagged as non-compliant CASPs, with Italy’s CONSOB leading the scrutiny.
Transition periods for MiCA compliance have now expired in several EU member states, including the Netherlands, Poland, Hungary, Latvia, Slovenia, and Finland. The Dutch Authority for the Financial Markets (AFM) has emerged as one of the most proactive regulators in issuing licenses.
As more companies seek MiCA authorization to access the broader EU market, regulators are preparing for an influx of applications in the coming months.
The next official update is expected in September, marking the regulation’s nine-month milestone.