MiCA Transition Ends After Wave of Last-Minute Crypto Licenses

A slew of last-minute licenses were issued to cryptocurrency companies in Europe as Wednesday marked the end of the transitional period under the Markets in Crypto-Assets Regulation (MiCA).

Four companies were authorized in Italy this week, including asset management platform Hodlie, crypto exchange Young Platform, trading platform CryptoSmart and crypto service provider Hercle, bringing Italy’s total to eight authorized crypto asset service providers (CASPs), according to a Tuesday announcement from the Bank of Italy. The central bank said the country’s financial regulator, Consob, approved the licenses in coordination with it.

The French financial markets regulator, Autorité des marchés financiers (AMF), also added three new companies on Tuesday, including crypto investment platform Mereau Finance, blockchain infrastructure provider Iceblock and crypto service provider Aplo, bringing the total number of licensed CASPs to 31.

In Malta, digital asset prime broker FalconX announced Monday that it had received a MiCA license, while Venga announced on Wednesday that it had received CASP authorization from Spain.

The licenses were issued during the final stretch of MiCA’s 18-month transitional period, which ended on Wednesday. By Friday, the European Securities and Markets Authority’s (ESMA) interim register showed 244 authorized CASPs across the European Union and European Economic Area.

France’s whitelist includes newly licensed CASPs. Source: AMF

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Largest MiCA-authorized exchanges emerge as transition ends

Binance, the world’s largest crypto exchange by trading volume, remains unlicensed under MiCA. The exchange applied for authorization in Greece but later withdrew its application, saying it will seek authorization in another member state.

Greece is among the EU member states that have yet to issue a MiCA license.

On June 23, the European Securities and Markets Authority (ESMA) said crypto service providers that remain unauthorized by the deadline must take “immediate” steps to wind down their EU activities. 

With Binance remaining unlicensed under MiCA, the largest MiCA-authorized exchanges by spot orderbook liquidity include OKX, Coinbase, Bybit, Crypto.com, Gate and Bitstamp, according to DefiLlama data.

MiCA-regulated cryptocurrency exchanges in Europe. Source: DefiLlama

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