Greater than 50 establishments, together with main stablecoin issuers and crypto service suppliers, have obtained regulatory approval below the European Union’s Markets in Crypto-Belongings (MiCA) framework inside the first six months of the regulation.
On July 7, Circle govt Patrick Hansen shared new information from the European Securities and Markets Authority (ESMA), revealing that 53 entities have secured MiCA licenses simply six months after the framework got here into pressure.
The licenses allow these corporations to “passport” their providers throughout 30 European Financial Space (EEA) international locations without having further approval in every jurisdiction.
In line with him, the spate of licenses marks a major milestone for digital asset compliance within the area and exhibits that the regulation is gaining momentum.
Approved stablecoin issuers
To this point, 14 corporations have been approved to difficulty stablecoins or e-money tokens (EMTs) throughout seven EU international locations. Notable licensed issuers embody Circle, Crypto.com, Societe Generale, Stablemint, Quantoz, and StablR.
Collectively, these corporations are behind 20 fiat-backed stablecoins, 12 pegged to the euro, seven tied to the US greenback, and one denominated within the Czech koruna.
Tether, the issuer of USDT, stays lacking from the listing as it’s but to adjust to MiCA necessities. Because of this, it has been delisted from a number of EU-based exchanges, together with Coinbase and Crypto.com.
MiCA-licensed crypto buying and selling platforms
Along with stablecoin issuers, 39 crypto-asset service suppliers (CASPs) have additionally obtained MiCA licenses.
These licenses have been distributed throughout varied EU/EEA international locations, together with Germany, the Netherlands, Malta, and France. Germany has issued essentially the most licenses, with 12, adopted by the Netherlands and Malta, with 11 and 5 licenses, respectively.
The licensed CASPs characterize a mixture of conventional monetary establishments, fintech corporations, and crypto-native companies. These corporations embody BBVA, Robinhood, Coinbase, Kraken, and OKX. Nevertheless, Binance, the biggest crypto platform by buying and selling quantity, is lacking from the listing.
The change not too long ago employed Gillian Lynch as its new head of Europe and the UK. In line with the agency, Lynch would assist it adjust to the regulatory engagement throughout these areas.
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