More than 50 institutions, including large Stablecoin emission and crypto service providers, have received legal approval within the first six months of the Regulation under the markets of the European Union in Crypto-Axets (MICA).
On July 7, Circle Executive Patrick Hansen shared new data from the European Securities and Markets Authority (ESMA), which shows that 53 entities protected mica statements only six months after the framework was in force.
The licenses enable these companies to ‘passport’ their services in the countries of 30 European Economic Area (EEA) in ‘passport’ without needing additional approval in any jurisdiction.
According to him, the wave of licenses marks an important milestone for compliance with digital assets in the region and shows that the regulation is gaining strength.
Authorized Stablecoin -Emitents
Up to now, 14 companies have been authorized to publish Stablecoins or e-money tokens (EMTs) in seven EU countries. Remarkable licensed emptents include Circle, Crypto.com, Societe General, Stablemint, Quantoz and Stablr.
Together these companies are behind the 20 Fiat-Stunder Stablecoins, 12 linked to the euro, seven bound to the US dollar, and an expressed in the Czech Koruna.
Tether, the issuer of USDT, remains missing in the list because he still has to meet the mica. As a result, it is removed from various EU-based trade fairs, including Coinbase and Crypto.com.
Mica-figured crypto-trade platforms
In addition to Stablecoin-Emennants, 39 crypto-asset service providers (CASPs) have also received mica licenses.
These licenses were divided between various EU/EEAs, including Germany, the Netherlands, Malta and France. Germany has issued the most licenses, with 12, followed by the Netherlands and Malta, with 11 and 5 licenses respectively.
The licensed CASPs represent a mix of traditional financial institutions, fintech companies and crypto-native companies. These companies include BBVA, Robinhood, Coinbase, Kraken and OKX. However, Binance, the largest crypto platform by trade volume, is missing in the list.
Gillian Lynch recently hired the exchange as his new head of Europe and the United Kingdom. According to the company, Lynch would help to meet the regulatory involvement in these regions.