EU Grants MiCA Licenses to 53 Crypto Firms, Tether and Binance Excluded

Six months post-MiCA enforcement, 53 crypto entities are now authorized, while Tether and Binance remain unlicensed, affecting their operations in the EU.

USDT

Summary

The European Union has authorized 53 crypto-related entities under the MiCA framework, allowing them to operate across its 30-country economic area. This includes 14 licensed stablecoin issuers and 39 crypto-asset service providers like Coinbase and Kraken. However, Tether has not secured a license, leading to delistings, and Binance is also absent from the approved list. The next update on licenses is expected in late September.

Terms & Concepts
  • MiCA: The Markets in Crypto-Assets regulation aims to create a comprehensive regulatory framework for digital assets in the European Union.
  • Stablecoin: A type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset, such as fiat currency.
  • Crypto-asset service providers (CASPs): Entities that offer services related to cryptocurrencies, including exchanges, wallets, and custodial services.