The EU has issued 244 MiCA crypto licenses so far, and Germany and France together account for more than one-third of them. That cluster shows how Europe’s new Markets in Crypto‑Assets (MiCA) regime is taking shape unevenly ahead of a key July deadline. While some countries are now clear hubs for regulated crypto services, others have yet to issue a single license.
Germany and France Set the Pace
According to ESMA’s interim register, Germany leads the bloc with 57 approved crypto‑asset service providers (CASPs) under MiCA. Those licenses represent about 23% of the EU’s total and include major exchanges, brokers, and custodians that want to passport services across the union. France ranks second with 26 licenses, or roughly 11% of the total, after accelerating approvals in late June.
Together, Germany and France account for more than one‑third of all MiCA licenses now in force. Regulators and analysts note that these countries, along with the Netherlands, Luxembourg, and Ireland, collectively hold about 72% of the EU’s financial assets. As a result, it is not surprising that many global crypto firms have picked them as home bases for MiCA authorization.
Five Countries Still at Zero
ESMA data also highlights a group of laggards. Greece, Hungary, Poland, Portugal, and Romania have not issued any MiCA CASP licenses as of June 29. In Poland’s case, lawmakers still have not finalized a licensing regime for exchanges, and the president has vetoed related bills multiple times.
This uneven rollout means access to regulated crypto services will vary sharply by country even after MiCA takes full effect. Traders in states without licensed providers may need to rely on firms passported from other EU jurisdictions, if those firms choose to serve them. Otherwise, they could see local platforms wind down or restrict features as rules tighten.
Now the clock is ticking for every crypto enterprise that hasn’t received MiCA authorization. Under the legislation, companies must obtain at least one MiCA license from an EU regulator by 1 July to maintain providing relevant services across the bloc. Those approvals then serve as a passport, allowing CASPs to operate throughout all 27 member nations without obtaining separate licenses in each country.
ESMA has said that crypto companies without a MiCA license will be required to stop offering covered services in the EU after July 1.
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