WuBlockchain
The EU has issued around 230 MiCA licenses since the bloc's new crypto regime came into force, with Germany leading at 56 approvals, the Netherlands at 26 and France at 21. The pace of authorisations is reshaping who can legally serve European customers, and who cannot.
Why it matters
In France alone, roughly 40% of registered crypto service providers have not applied for a MiCA license. Industry participants say the regime has hardened market resilience by drawing a clear perimeter around solvency, governance and disclosure. It has also narrowed the field. Smaller firms face the heaviest compliance lift, and several have already withdrawn applications, merged with larger peers or begun winding down operations.
Market impact
The concentration of licenses in three jurisdictions points to a single-market regime that, in practice, is fragmenting along national licensing capacity. Readers watching EU crypto infrastructure should track which member states continue to process applications at pace and whether the smaller operators absorbed into larger groups retain product autonomy or get folded into standardised offerings.
Frequently asked questions
-
How many MiCA licenses has the EU issued so far?
Around 230 MiCA licenses have been issued across the bloc since the regime took effect, with Germany leading at 56, the Netherlands at 26 and France at 21.
-
Why are French crypto firms slow to apply for MiCA?
Roughly 40% of registered crypto service providers in France have not applied for a MiCA license, with several withdrawing applications, merging with larger peers or winding down rather than absorbing the compliance cost.
-
Does MiCA strengthen or weaken Europe's crypto market?
Industry participants say MiCA has hardened market resilience on solvency, governance and disclosure, but the same compliance lift is squeezing smaller firms and reducing product diversity.
-
Which EU countries lead MiCA authorisations?
Germany leads with 56 MiCA licenses, followed by the Netherlands at 26 and France at 21, leaving the rest of the bloc to share the remaining approvals.
-
What should investors watch as MiCA licensing continues?
Watch which member states keep processing applications at pace, whether absorbed smaller firms keep product autonomy, and whether the regime consolidates the market around a handful of dominant venues.
CryptoSlate
Altcoin Daily
CoinDesk
CoinTelegraph