Germany Dominates EU Crypto Licenses as Transaction Ban Hits 14 Firms
Germany leads the European Union in issuing licenses under the Markets in Crypto-Assets (MiCA) regulation, with 79 firms authorized so far. This is more than double the number of any other nation, according to an update from the European Securities and Markets Authority (ESMA). The EU's MiCA regulatory framework came into effect on December 30, 2024, requiring crypto-asset service providers (CASPs) operating in the bloc to apply for a license.
On August 21, ESMA updated its register of MiCA-authorized CASPs, bringing the total to 331. Germany's cooperative banks are among those authorized, with 10 new firms added since the beginning of August. The EU regulator also maintains registers of issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs), with three firms added to the EMT register in a recent update.
However, not all CASPs are welcome in the EU. A transaction ban has been imposed on 14 non-EU digital asset firms, including cryptocurrency exchange HTX, as part of efforts to prevent Russia's financial lifelines from being circumvented. The move is aimed at preventing Russia from accessing alternative financial and crypto channels that could undermine the effectiveness of EU restrictions.