ESMA, the European Securities and Markets Authority, has updated its register of crypto companies authorized under the European Union’s Crypto Asset Markets regulation, MiCA. After the transition period ended, 37 new crypto asset service providers were added to the list. Thus, the number of companies receiving MiCA authorization throughout the European Union increased from 244 on June 26 to 281.
The list has expanded with new approvals
The latest update showed that the MiCA framework has found wider application across Europe. The new powers paved the way for companies to provide crypto services in the region in compliance with the regulation. New institutions on the list include Standard Chartered, FalconX, Sygnum Europe, Ronin EM and Crédit Agricole-backed digital asset unit CACEIS.
Standard Chartered received MiCA authorization from the Luxembourg financial regulator on 25 June. The global banking group also obtained an Electronic Money Institution license. This permit allows it to issue electronic money and provide payment services in the European market. As an internationally operating banking group, Standard Chartered is known for its financial services focused on corporate customers.
Standard Chartered stated that the licenses it received are complementary to its digital asset custody steps in Asia and the Middle East and will help meet the increasing demand for regulated crypto products in Europe.
This step of the bank stands out as part of its strategy to expand institutional digital asset services in Europe. In particular, the increasing demand for regulated custody, payment and crypto services makes large financial institutions more visible within the MiCA framework.
Distribution by country attracted attention
In the last update, the country that gave the most new approvals was Southern Cyprus. Six crypto asset service providers have been authorized in the country. France, Italy and Malta added five new companies each, while the Czech Republic and Spain approved four each. Luxembourg provided three new powers and the Netherlands two. Germany, Liechtenstein and Latvia added one new company each.
Although Southern Cyprus came to the fore in this round, Germany retained its position as the largest center for MiCA licenses within the European Union. Germany’s Federal Financial Supervisory Authority BaFin has approved 58 crypto companies to date. The total number of MiCA licenses issued by the Cyprus Securities and Exchange Commission CySEC is 21.
There are also fields in the record that do not change
Not all titles in the ESMA registry moved at the same pace. There are currently no approved issuers in the asset-backed token category. This table revealed that no project in this class has yet received the necessary permission.
On the other hand, the list of non-compliant organizations remained stable at 162. This showed that while there was an increase on the authorization side in the last update, there was no new change on the side of actors deemed inappropriate.
The MiCA effect is also reflected in companies’ statements
The de facto strengthening of the regulatory framework in Europe has begun to be reflected in the customer communications of major platforms. Binance reassured users in the European Union that their funds are safe as new regulatory changes under MiCA come into effect across the region.
