The Crypto-Asets markets on the European Union markets has taken an important step by approving licenses so that 53 cryptographic companies operate through the block. This development marks a major step towards the unified regulation of digital assets in the European economic field (EEE).
Among approved companies are 14 stablecoin issuers and 39 Crypto-Aset service providers (CASPS). These licenses allow companies to “pass the passport” to their services to the 30 EEE countries without the need for separate national approvals. Circle, Crypto.com, General Society – Forge, Stablemint, Esseoz, Membrane, Finance and Stablr, among others. These companies have published 20 stablescoins supported by Fiat, including 12 euros, 7 American people and 1 Czech stable of Koruna. Notable casps include Coinbase, Kraken, Bitstamp, OKX, Robinhood, Trade Republic, BBVA, Clearstream, Etoro and N26. Germany and the Netherlands are the license leaders, with 23 of the 39 CASP approvals combined.
Particularly absent from the first cycle of approvals are Binance and Tether, two of the largest participants in the sector. Tether, the largest stablecoin transmitter in the world, has not yet been approved by mica due to the transparency and reluctance of the insufficient audit to comply with the strict governance and disclosure of Mica. Consequently, the USDT of Tether has been struck off by several EU exchanges, and the company said that it would focus on other markets until the EU regime becomes less “risk”.
Binance also did not obtain a Mica license, mainly due to pending regulatory issues and questions of compliance across Europe. The exchange has drawn requests or closed in many EU countries in the past two years and has been surveyed in several regions. Requests for governance, transparency and anti-lamination measures of Mica have been particularly difficult for such an important and complex organization.
The gradual MICA deployment means that only compliant stables and providers can be legally offered or listed in the EU. This has already led to the cancellation of non -compliant tokens, the most important USDT and the consolidation of market share among regulated players. For investors and institutions, the new rules offer the promise of greater transparency and consumer protection, but are also likely to reduce short -term diversity and innovation.
“Mica changes the situation for the European crypto, but the bar is high. Companies must demonstrate not only technical compliance, but real governance and transparency, ”notes a lawyer in digital finance based in Brussels. The passport regime under Mica is a double -edged sword: it reduces the obstacles to large compliant players, but increases the costs and complexity of small competitors, potentially accelerating market consolidation. The September regulatory control point may anticipate that more companies are added or deleted as compliance checks continue.
The new European mica regime reshapes the landscape of cryptography – stimulating clarity and access to some, and new obstacles for the greatest players in the industry. The coming months reveal if giants like Binance and Tether can adapt, or if they will be irrevocably modified by the new rules of Europe.
