Germany Expands MiCA Lead as Six More Banks Join Register

Germany's lead in MiCA authorizations has widened after six German cooperative banks were added to the European Union's Markets in Crypto-Assets Regulation (MiCA) register.

The update, released by the European Securities and Markets Authority (ESMA), brings the total number of authorized crypto asset service providers (CASPs) to 331. This represents a significant increase from the previous update on August 12, when there were only 325 CASPs listed.

Germans now account for 79 CASPs, surpassing France's 35 and the Netherlands' 29 in terms of MiCA authorizations. Germany's growth in this area is attributed to its large financial sector, with many credit institutions eligible to offer crypto services. The country also has a pre-existing national licensing regime that provided a simplified authorization procedure for some CASPs during the transition to MiCA.