Germany Widens MiCA Lead as Six More Banks Gain Authorization

Germany has solidified its lead in the number of providers licensed under the European Union's Markets in Crypto-Assets Regulation (MiCA) after six German cooperative banks were added to the MiCA register.

The update, published by the European Securities and Markets Authority (ESMA), brings the total number of authorized crypto asset service providers (CASPs) to 331. Germany now accounts for 79 CASPs, surpassing France's 35 and the Netherlands' 29.

Germany's Federal Financial Supervisory Authority (BaFin) attributed the country's high number of MiCA authorizations to its large financial sector and pre-existing national licensing regime, which provided some CASPs with access to simplified authorization procedures during the transition to MiCA.