Germany Leads MiCA Crypto Licensing as EU Rules Take Effect Across Europe

Germany has emerged as the leading hub for crypto licensing under the European Union’s Markets in Crypto-Assets (MiCA) regulation, with the new framework set to fully take effect on July 1.

According to interim data from the European Securities and Markets Authority (ESMA), 244 crypto-asset service providers (CASPs) have received MiCA authorization across EU and European Economic Area (EEA) jurisdictions. Germany accounts for 57 approved companies, representing about 23% of all licenses issued. France follows with 26 approvals, alongside the Netherlands as one of Europe’s largest crypto licensing centers.

France Speeds Up Final Round of MiCA Approvals

France recorded the strongest late-June licensing activity, issuing five CASP approvals between June 18 and June 22. Newly approved companies include Bpifrance Investissement, RCUBE Asset Management, Paymium, Leonod, and Meria. During the same period, 11 licenses were granted across the EU and EEA, with Malta adding two approvals.

Several EU Countries Still Have No MiCA Licenses

Despite the progress, MiCA implementation remains uneven across Europe. Greece, Hungary, Poland, Portugal, and Romania have not issued any MiCA licenses as of June 26.

Greece previously received a licensing application from Binance, but the exchange later withdrew it and pursued authorization in another MiCA jurisdiction. Poland continues to face delays after setbacks in its MiCA legislation, leaving the country without an active licensing framework before the EU deadline.

Meanwhile, Italy accounted for 160 of the 162 entries in ESMA’s non-compliant CASP register, highlighting ongoing regulatory challenges as the new crypto rules come into force.