Six months into the European Union’s full enforcement of MiCA, the EU has authorized 53 crypto-related entities to operate legally across its 30-country economic area.
According to a July 7 update shared by Patrick Hansen, Director of EU Strategy & Policy at Circle, the list now includes 14 licensed stablecoin issuers from seven countries and 39 MiCA-authorized crypto-asset service providers. Coinbase, Kraken, Bitstamp, and N26 are among the companies that can now “passport” their services throughout the EU without needing additional local approvals.
𝐌𝐢𝐂𝐀 6-𝐌𝐨𝐧𝐭𝐡𝐬 𝐒𝐭𝐚𝐭𝐮𝐬 𝐔𝐩𝐝𝐚𝐭𝐞: 𝐅𝐮𝐥𝐥 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐀𝐮𝐭𝐡𝐨𝐫𝐢𝐳𝐞𝐝 𝐒𝐭𝐚𝐛𝐥𝐞𝐜𝐨𝐢𝐧 𝐈𝐬𝐬𝐮𝐞𝐫𝐬 & 𝐂𝐫𝐲𝐩𝐭𝐨-𝐀𝐬𝐬𝐞𝐭 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐏𝐫𝐨𝐯𝐢𝐝𝐞𝐫𝐬 🇪🇺
6 months into MiCA’s application for CASPs — and 12 months for stablecoins — here’s… pic.twitter.com/5mZwOg30qq
— Patrick Hansen (@paddi_hansen) July 7, 2025
On 30 Dec. 2024, the Markets in Crypto-Assets regulation, or MiCA, went into full force. It established the first unified legal framework for cryptocurrency operations in history, covering consumer protection, disclosures, licensing, and stablecoin issuance.
Tether (USDT), has yet to obtain a MiCA license, a move that’s already led to delistings by platforms such as Coinbase and Crypto.com. Binance, facing regulatory challenges across multiple jurisdictions, is also absent from the approved list.
Among the stablecoin issuers now licensed under MiCA are Circle (EURC, USDC), Société Générale-Forge (EURCV, USDCV), and Membrane Finance (EURe, eUSD). Most licensed stablecoins are euro-denominated, though several U.S. dollar and one Czech koruna token are also listed.
Despite the progress, no firm has registered to issue asset-referenced tokens, which are stablecoins pegged to a basket of assets. According to EU officials, under the current compliance costs and regulations, the lack of ART applicants indicates low market demand.
Regulators have also flagged over 35 crypto companies as non-compliant CASPs, with the Italian regulator CONSOB leading enforcement actions. Meanwhile, crypto media outlets throughout Western Europe have been adisrupted by search algorithm changes and policies aligned with MiCA.
As more businesses scramble to meet MiCA’s strict disclosure and compliance requirements, the next license update is anticipated at the nine-month mark in late September.
