EU issues 244 MiCA crypto licenses, led by Germany and France

The European Union has granted 244 crypto-asset service provider authorizations under its Markets in Crypto-Assets regulation as of June 29. Germany leads the pack with 57 licenses, roughly 23% of the total, while France trails in second with 26, accounting for about 11%.

Those numbers sound respectable until you zoom out. More than 1,200 entities held national-level crypto registrations before MiCA came along. Only about 17% have successfully converted to the new standard. The rest, some 83% of previously registered virtual asset service providers, are staring down a July 1, 2026 deadline that could force them to stop serving clients across the EU and EEA entirely.

To put the scale of the problem in perspective, Poland alone held over 1,400 legacy VASP registrations before MiCA. The sheer volume of firms that registered under lighter national frameworks, particularly in jurisdictions with lower barriers to entry, always suggested that a significant number wouldn’t survive the transition to stricter pan-European standards.

Germany’s dominance in the licensing count isn’t surprising. The country’s financial regulator, BaFin, has historically been one of Europe’s more proactive authorities when it comes to digital asset oversight. Germany introduced crypto custody licensing requirements back in 2020, giving its domestic industry a head start in navigating compliance infrastructure. The 57 licenses issued there reflect both regulatory maturity and a deep bench of firms that were already operating at a higher compliance standard.

France’s 26 licenses tell a similar story. The country was an early mover with its own digital asset framework and has actively courted crypto companies looking for a European base. The Netherlands and Luxembourg are also active in issuing authorizations, though their numbers fall below the Franco-German leaders.

The deadline isn’t a suggestion. Firms that haven’t secured MiCA authorization by July 1 will be required to cease serving clients within the EU and EEA.

The upside for firms that do hold a MiCA license is significant. Authorized CASPs gain passporting rights, meaning a single license allows them to operate across all 27 EU member states and EEA countries. No more country-by-country applications. No more fragmented compliance strategies. One license, one continent.

Recent developments underscore the ongoing complexities even for major players. Ripple has reportedly attained preliminary CASP approval from Luxembourg’s financial authority, positioning the company to expand payment services across the bloc. Meanwhile, firms like Binance continue to face licensing challenges in various European jurisdictions, a reminder that scale and brand recognition don’t automatically translate to regulatory approval.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.