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MiCA regulation leaves majority of EU crypto firms without authorization
The implementation of the Markets in Crypto-Assets (MiCA) regulation in the European Union has left a significant majority of crypto-asset service providers without authorization. Following the conclusion of the transitional period on July 1, data from TRM Consulting indicates that only 281 out of 1,343 previously operating platforms have secured the necessary licenses.
According to records from the European Securities and Markets Authority (ESMA), an additional 42 companies obtained authorization after the deadline, though the registration process remains open. Under the new regulatory framework, providers that fail to obtain a license must cease operations, restructure, or transfer their clients to authorized entities.
In Spain, the National Securities Market Commission (CNMV) reported that of the 77 applications received by July, 20 had been authorized and 16 remained in process. The MiCA regulation introduces stricter requirements regarding capital, corporate governance, transparency, and the safeguarding of client funds.
Entities
Autorité des marchés financiers · CNMV · European Securities and Markets Authority · European Union · Markets in Crypto-Assets Regulation · TRM Consulting · TRM Labs
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Out of 1,343 platforms existing before the regulation, only 281 had secured licenses by the July 1 deadline. www.lavanguardia.com
- [○ 1 SOURCE] The MiCA regulation rules have become fully enforceable following the end of the transition period. www.lavanguardia.com
- [○ 1 SOURCE] In Spain, the CNMV had authorized 20 out of 77 requests by July, with 16 still being processed. www.lavanguardia.com
- [○ 1 SOURCE] An additional 42 companies obtained licenses after the initial deadline, according to ESMA records. www.lavanguardia.com
- [○ 1 SOURCE] Only one in five crypto firms has obtained authorization following the MiCA regulation deadline. www.lavanguardia.com