Crypto Firms Turn to Buying Licensed Platforms Amid MiCA Deadline

The European Union's MiCA license has changed the landscape for cryptocurrency firms operating in the EU. The regulation, which came into effect on July 1, 2026, requires crypto-asset service providers to hold a CASP authorization from the relevant authorities in order to continue serving EU users.

Many firms had been planning to apply for the license, but with the deadline now closed, they are being forced to consider alternative options. One strategy is to buy an existing licensed platform and integrate their own product and services into it. This approach allows them to quickly gain access to the EU market without having to navigate the lengthy and complex licensing process.

The market for MiCA licenses has become highly concentrated, with a small number of jurisdictions holding a large proportion of the total authorizations. Germany, France, and the Netherlands are among the top three countries in terms of licensed firms. Buying a license from an existing firm can be attractive as it provides a proven track record of compliance and reduces the risk of regulatory scrutiny.

However, there are also risks associated with this approach. Change-of-control approvals, fit-and-proper checks, and integration challenges can all add significant complexity to the process. Additionally, buyers will need to carefully review the target firm's compliance history and ensure that they have a clear understanding of its regulatory obligations.