Patrick Hansen
Patrick Hansen|Jul 07, 2025 10:26
๐Œ๐ข๐‚๐€ 6-๐Œ๐จ๐ง๐ญ๐ก๐ฌ ๐’๐ญ๐š๐ญ๐ฎ๐ฌ ๐”๐ฉ๐๐š๐ญ๐ž: ๐…๐ฎ๐ฅ๐ฅ ๐‹๐ข๐ฌ๐ญ ๐จ๐Ÿ ๐€๐ฎ๐ญ๐ก๐จ๐ซ๐ข๐ณ๐ž๐ ๐’๐ญ๐š๐›๐ฅ๐ž๐œ๐จ๐ข๐ง ๐ˆ๐ฌ๐ฌ๐ฎ๐ž๐ซ๐ฌ & ๐‚๐ซ๐ฒ๐ฉ๐ญ๐จ-๐€๐ฌ๐ฌ๐ž๐ญ ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž ๐๐ซ๐จ๐ฏ๐ข๐๐ž๐ซ๐ฌ ๐Ÿ‡ช๐Ÿ‡บ 6 months into MiCAโ€™s application for CASPs โ€” and 12 months for stablecoins โ€” hereโ€™s the latest July snapshot: ๐Ÿ“Œ 14 ๐š๐ฎ๐ญ๐ก๐จ๐ซ๐ข๐ณ๐ž๐ ๐ฌ๐ญ๐š๐›๐ฅ๐ž๐œ๐จ๐ข๐ง (๐ž-๐ฆ๐จ๐ง๐ž๐ฒ ๐ญ๐จ๐ค๐ž๐ง) ๐ข๐ฌ๐ฌ๐ฎ๐ž๐ซ๐ฌ โ†’ From 7 EU countries: ๐Ÿ‡ซ๐Ÿ‡ท (3), ๐Ÿ‡ฉ๐Ÿ‡ช (1), ๐Ÿ‡ฒ๐Ÿ‡น (3), ๐Ÿ‡ณ๐Ÿ‡ฑ (3), ๐Ÿ‡จ๐Ÿ‡ฟ (1), ๐Ÿ‡ซ๐Ÿ‡ฎ (1), ๐Ÿ‡ฑ๐Ÿ‡น (1) โ†’ Issuing 20 e-money tokens (EMTs) or single fiat-backed stablecoins: โ€ข 12 euro-denominated โ€ข 7 dollar-denominated โ€ข 1 Czech koruna-denominated ๐Ÿ“Œ 39 ๐Œ๐ข๐‚๐€-๐ฅ๐ข๐œ๐ž๐ง๐ฌ๐ž๐ ๐‚๐€๐’๐๐ฌ (๐‚๐ซ๐ฒ๐ฉ๐ญ๐จ-๐€๐ฌ๐ฌ๐ž๐ญ ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž ๐๐ซ๐จ๐ฏ๐ข๐๐ž๐ซ๐ฌ) โ†’ From 9 EU/EEA countries: ๐Ÿ‡ฉ๐Ÿ‡ช (12), ๐Ÿ‡ณ๐Ÿ‡ฑ (11), ๐Ÿ‡ฒ๐Ÿ‡น (5), ๐Ÿ‡ซ๐Ÿ‡ท (3), ๐Ÿ‡ฑ๐Ÿ‡บ (3), ๐Ÿ‡ฆ๐Ÿ‡น (2), ๐Ÿ‡จ๐Ÿ‡พ (1), ๐Ÿ‡ช๐Ÿ‡ธ (1), ๐Ÿ‡ฎ๐Ÿ‡ช (1) โ†’ Mix of TradFi, fintech & crypto-native firms. Examples: โ€ข TradFi: BBVA, Clearstream, CACEIS โ€ข Fintech: N26, Trade Republic, eToro, Robinhood โ€ข Crypto-native: Coinbase, Kraken, Bitpanda, OKX, Bitstamp ๐Ž๐ญ๐ก๐ž๐ซ ๐ข๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ข๐ง๐  ๐Ÿ๐š๐œ๐ญ๐ฌ โ€ข Still 0 ART issuers (asset-referenced tokens), suggesting a clear lack of market demand for now. โ€ข ~30 whitepapers notified under MiCA Title II for crypto-assets like BTC, ETH, etc. โ€ข Transition periods have now ended in ๐Ÿ‡ณ๐Ÿ‡ฑ ๐Ÿ‡ต๐Ÿ‡ฑ ๐Ÿ‡ญ๐Ÿ‡บ ๐Ÿ‡ฑ๐Ÿ‡ป ๐Ÿ‡ธ๐Ÿ‡ฎ ๐Ÿ‡ซ๐Ÿ‡ฎ โ€” with Dutch AFM leading license issuance among them. โ€ข ~30 whitepapers notified under MiCA Title II for crypto-assets like BTC, ETH, etc. โ€ข 35+ firms now listed as non-compliant CASPs, primarily flagged by Italian regulator CONSOB. 6 months into its full application, MiCA is clearly gaining momentum. Companies across Europe are seeking to receive their license in order to passport their services into 30 EEA countries. The race is on! ๐Ÿ“… Next update at the 9 months mark at the end of September. ๐Ÿ‘‡ Full list of authorized EMT issuers & CASPs in the graphic below. PS: This is based mainly on ESMAโ€™s interim register, with a few additions from recent news. The landscape is evolving fast โ€” take with a grain of salt.
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