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More than 50 institutions, including the main issuers of stablecoins and cryptal service providers, have received regulatory approval on the European Union markets in crypto-asset (SIDA) during the first six months of regulation.
On July 7, the CEICLE CEO Patrick Hansen shared new data from the European Securities and Markets Office (ESMA), revealing that 53 entities provided the Mica license only six months after the framework came into force.
Licenses allow these companies “pass” their services across 30 European economic areas (EHE) without needing further approval in every jurisdiction.
According to him, a number of licenses mean a significant milestone to comply with digital assets in the region and show that the regulation gains strength.
Authorized Imiters Stablecoin
So far, 14 companies have been entitled to issue stablecoins or tokens of e-pipe money (EMT) in seven EU countries. Remarkable licensed issuers are Ring, Crypto.com, General societyStablemint, Quantoz and Stablr.
Together, these companies are for 20 Stabnecoins supported by Fiat, 12 linked to the euro, seven tied to the US dollar and one denominated in the Czech crown.
BondsThe USDT issuer remains in the list because it is not yet in line with the requirements of SIDA. As a result, it was excluded from several EU -based exchanges, including Coinbase and Crypto.com.
A crypto trading platform for a mica license
In addition to the Stablecoins issuers, 39 Kryptos (CASPs) providers also received.
These licenses were distributed in different EU/EHE countries, including Germany, the Netherlands, Malta and France. Germany issued the most licenses with 12, followed by the Netherlands and Malta with 11 and 5 licenses.
The licensed CASP is a combination of traditional financial institutions, fintech companies and crypto-family. These companies include BBVA, Robinhood, Coinbase, Kraken and OKX. However, the list is missing binance, the largest crypto platform volume of trading.
Gillian Lynch recently hired the exchange as its new head of Europe and the United Kingdom. According to the company, Lynch would help in accordance with the regulatory involvement in these regions.
