Germany Dominates EU Crypto Licensing as MiCA Approvals Accelerate

The European Union's transition to a single regulatory regime for crypto-assets under the Markets in Crypto-Assets (MiCA) framework has led to a surge in licensing activity, with Germany emerging as the leading hub. According to the latest register from the European Securities and Markets Authority (ESMA), BaFin, Germany's financial regulator, has granted 57 crypto-asset service provider (CASP) licenses. This brings the total number of MiCA authorizations across Europe to 244.

France follows closely with 26 licensed firms, while the Netherlands is also among the leading jurisdictions. The figures underscore how licensing activity has become concentrated in a handful of financial centers, despite MiCA's goal of creating a harmonized market for crypto services across the EU.

A company licensed in one member state can 'passport' its services throughout the bloc without seeking additional national approvals. The licensing drive accelerated ahead of the July 1 2026 deadline marking the end of transitional arrangements, after which crypto firms operating without MiCA authorization risk enforcement action, including being ordered to halt services for EU customers.