EU grants MiCA licenses to 53 crypto firms, Tether and Binance left behind

More than 50 institutions, including large stablecoin issuers and crypto work providers, person received regulatory support nether the European Union’s Markets successful Crypto-Assets (MiCA) model wrong the archetypal six months of the regulation.

On July 7, Circle enforcement Patrick Hansen shared caller information from the European Securities and Markets Authority (ESMA), revealing that 53 entities person secured MiCA licenses conscionable six months aft the model came into force.

The licenses alteration these firms to “passport” their services crossed 30 European Economic Area (EEA) countries without needing further support successful each jurisdiction.

According to him, the spate of licenses marks a important milestone for integer plus compliance successful the portion and shows that the regularisation is gaining momentum.

Authorized stablecoin issuers

So far, 14 firms person been authorized to contented stablecoins oregon e-money tokens (EMTs) crossed 7 EU countries. Notable licensed issuers see Circle, Crypto.com, Societe Generale, Stablemint, Quantoz, and StablR.

List showing MiCA-authorized stablecoin issuers (Source: X/Hansen)

Together, these firms are down 20 fiat-backed stablecoins, 12 pegged to the euro, 7 tied to the US dollar, and 1 denominated successful the Czech koruna.

Tether, the issuer of USDT, remains missing from the database arsenic it is yet to comply with MiCA requirements. As a result, it has been delisted from respective EU-based exchanges, including Coinbase and Crypto.com.

MiCA-licensed crypto trading platforms

In summation to stablecoin issuers, 39 crypto-asset work providers (CASPs) person besides received MiCA licenses.

These licenses were distributed crossed assorted EU/EEA countries, including Germany, the Netherlands, Malta, and France. Germany has issued the astir licenses, with 12, followed by the Netherlands and Malta, with 11 and 5 licenses, respectively.

List showing MiCA-licensed crypto trading platforms successful the EU (Source: Hansen/X)

The licensed CASPs correspond a premix of accepted fiscal institutions, fintech companies, and crypto-native businesses. These firms see BBVA, Robinhood, Coinbase, Kraken, and OKX. However, Binance, the largest crypto level by trading volume, is missing from the list.

The speech precocious hired Gillian Lynch arsenic its caller caput of Europe and the United Kingdom. According to the firm, Lynch would assistance it comply with the regulatory engagement crossed these regions.

The station EU grants MiCA licenses to 53 crypto firms, Tether and Binance near behind appeared archetypal connected CryptoSlate.