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EU Grants MiCA Licenses to 53 Crypto Firms: Circle, Crypto.com, and Coinbase Among the First
The European Union has granted licenses to 53 crypto-related entities under its Markets in Crypto-Assets (MiCA) framework. This significant move marks a major step forward in establishing regulatory clarity within the region.
Circle, Crypto.com, and Coinbase have all received approvals for their respective services, indicating a growing trend of compliance among industry players. According to data from the European Securities and Markets Authority (ESMA), the licenses granted include 14 stablecoin issuers and 39 crypto asset service providers (CASPs).
Notably, Circle has secured approval for its euro-backed tokens, solidifying its position in the market. Crypto.com is set to expand its services across the bloc, leveraging the passporting rights that allow operations in all 30 European Economic Area countries.
It’s essential to highlight that this development does not include any approved asset-referenced token (ART) issuers at present. Patrick Hansen, a high-ranking executive from Circle, attributes the limited adoption of ARTs to low current demand for such tokens.
In contrast, approximately 30 whitepapers have been submitted by firms seeking to issue crypto assets like Bitcoin and Ethereum under MiCA’s Title II requirements.
Source: blockonomi.com
