MiCA Register Reveals Few Exchanges Authorized Under New EU Crypto Regulation

The European Securities and Markets Authority (ESMA) has published a register of authorized providers under the Markets in Crypto-Assets (MiCA) regulation. As of August 4, 2026, there are 329 authorizations granted to 322 legal entities across the European Economic Area. The most striking finding is that only 21 of these authorizations permit the operation of a trading platform.

Germany leads the field with 72 authorizations, more than twice as many as second-placed France (35). The Netherlands, Cyprus, and Malta follow, but it's worth noting that Germany's lead has little to do with crypto. A large share of German authorizations sits with banks, savings-bank networks, and investment firms offering crypto trading as an add-on.

When breaking down the services authorized under MiCA, custody of crypto-assets is the most common (221 mentions), followed by transfer services (206) and exchange for euros or other currencies (184). Operating a trading platform appears only 21 times, which is 6.4% of all authorizations.