Union

<p>The European Union has issued approximately 230 licenses under the Markets in Crypto-Assets (MiCA) Regulation to date. According to data shared by Wu Blockchain, this figure only represents a fraction of the more than 1,200 crypto companies previously operating under national registration schemes across member states.</p>
<h2 id="germany-leads-the-mica-license-race">Germany leads the MiCA license race</h2>
<p>Germany stands out as the frontrunner, with 56 licenses approved so far. The Netherlands follows with 26, while France has accounted for 21 licenses. As the transition period nears its end, the speed of the licensing process has become an urgent issue for companies wishing to maintain a foothold in the European market.</p>
<p>With the final MiCA transitional arrangements set to expire in July, crypto firms that fail to secure the required authorizations will no longer be able to serve customers within the EU. Companies unable to obtain a license will have to cease or gradually wind down their operations across the bloc.</p>
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 <p>With the transition period ending in July, companies that do not receive the mandated approval will be unable to operate in the EU market and must halt or liquidate their activities.</p>
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<h2 id="mica-eu-wide-supervision-under-a-single-framework">MiCA: EU-wide supervision under a single framework</h2>
<p>MiCA marks the EU’s first comprehensive framework focused on digital assets. The regulation brings crypto exchanges, brokerages, and wallet service providers under a supervisory structure similar to that applied to traditional financial institutions.</p>
<p>This unified approach allows companies to operate under a single set of rules across all 27 EU member states, eliminating the need to comply with different regulatory requirements in each country. License holders that meet standards for capital adequacy, corporate governance, asset safeguarding, and anti-money laundering can passport their services throughout the union.</p>
<p>Mini glossary: MiCA refers to the EU’s unified rulebook for crypto-asset service providers and certain types of tokens. “Passporting” refers to the ability to offer services throughout the EU based on authorization in a single member state, without needing additional national licenses.</p>
<h2 id="lack-of-applications-in-france-draws-attention">Lack of applications in France draws attention</h2>
<p>France has emerged as a case highlighting the challenges posed by the new regulatory environment. Sector representatives report that nearly 40% of previously registered crypto service providers in the country have not applied for a MiCA license.</p>
<p>While some companies withdrew their applications, others have sought partnerships with licensed firms. There are also businesses preparing to exit the market entirely.</p>
<h2 id="tighter-rules-weigh-on-smaller-firms">Tighter rules weigh on smaller firms</h2>
<p>Many market participants see MiCA as a way to strengthen stability and bolster consumer protection. However, the heavier compliance burden is seen as imposing a disproportionate strain on smaller crypto firms, raising concerns about survival for less-resourced players.</p>
<p>This dynamic suggests that, as stricter regulations take hold, market diversity among participants could shrink. The number of companies unable to complete the licensing process by the end of July will help determine the new shape of the European crypto landscape.</p>
<p>The post <a href="https://en.coin-turk.com/the-eu-granted-230-mica-licenses-with-germany-leading-as-july-deadline-approaches/" rel="noopener noreferrer nofollow">The EU granted 230 MiCA licenses, with Germany leading as July deadline approaches</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

The EU granted 230 MiCA licenses, with Germany leading as July deadline approaches

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