Germany Leads MiCA Crypto Licensing Race
BITmarkets Team
Jun 29, 2026
According to interim data published by the European Securities and Markets Authority (ESMA) on Friday, Germany has approved 57 crypto-asset service providers (CASPs), representing around 23% of the 244 MiCA licenses issued so far. France ranks second with 26 licensed companies, accounting for roughly 11% of all approvals and placing it alongside the Netherlands as one of the largest MiCA licensing hubs in Europe.
Although MiCA is intended to establish a unified regulatory framework across the EU, the latest figures suggest implementation remains fragmented as national regulators move at different speeds ahead of the July 1 transition deadline.
France accelerates approvals while Germany maintains lead
Despite Germany's overall lead, France has recorded the fastest pace of recent approvals. Between June 18 and June 22, French regulators granted five new CASP licenses, the highest number issued by any jurisdiction during that period. Across the EU and EEA, 11 new approvals were granted, with Malta following France after issuing two licenses.
Among the firms recently authorized in France are Bpifrance Investissement, RCUBE Asset Management, Paymium, Leonod and Meria. Germany’s Federal Financial Supervisory Authority (BaFin) told Cointelegraph that the country's strong performance reflects both the size of its financial sector and its existing regulatory framework.
According to BaFin, Germany already had a national crypto licensing regime in place before MiCA, allowing some providers to benefit from simplified transition procedures that helped accelerate approvals. The regulator also noted that Germany’s leadership may not be permanent, as future licensing activity will depend on market demand, innovation, and the volume of pending applications across Europe. BaFin expects approvals in other member states to gradually increase and eventually reflect the relative size of their financial sectors.
Several countries yet to grant MiCA licenses
While some jurisdictions have moved quickly, others have yet to approve any crypto service providers under MiCA. As of June 26, Greece, Hungary, Poland, Portugal and Romania had not issued a single CASP license, according to ESMA's interim register.
Poland remains one of the most notable cases after repeated delays in implementing MiCA legislation. Three reported presidential vetoes have left the country without an operational licensing framework ahead of the EU deadline. Greece has also attracted attention after Binance reportedly withdrew its local MiCA application, opting instead to pursue authorization in another European jurisdiction.
Meanwhile, ESMA’s register of non-compliant CASPs shows Italy accounting for 160 of the 162 listed entities as of Friday. The remaining two entries relate to firms in the Netherlands and Slovakia, linked to MEXC and LWEX, respectively. The latest figures illustrate that while MiCA provides a common regulatory framework, national implementation continues to vary considerably across the European Union.
Sources:
https://cointelegraph.com/news/mica-licenses-cluster-germany-total-reach-244
