EU MiCA Licenses Reach 230 as Market Concentration Concerns Grow

The European Union has issued around 230 MiCA licenses to crypto firms, giving them a passport to operate across the 27-country market. Germany leads with 56 authorizations, followed by the Netherlands and France.

The EU's new rulebook, MiCA, requires firms to meet clearer standards on governance, custody, capital, disclosures, and customer protection. The licensing process has forced smaller crypto firms to rely on licensed back-end providers or face shutdown plans.

The ESMA MiCA register is becoming the central checkpoint for users to verify whether a legal entity is approved under the new regime. Firms without authorization risk blacklisting and enforcement action if they continue seeking EU customers.