MiCA’s First 100 Days: Crypto Firms Struggle to Comply - CVJ.AI

Global ()17:53 15.04.2025 CVJ.AI Editorial Office

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A hundred days after the Markets in Crypto-Assets (MiCA) framework took effect, the crypto industry is still scrambling to meet compliance requirements. Only a handful of stablecoin issuers and crypto-asset service providers (CASPs) have been authorized, highlighting the sector’s regulatory challenges.

Only 11 stablecoin issuers and 15 CASPs have been authorized under MiCA so far, with no ART issuers approved yet.
Tether (USDT) is notably absent from the list of approved stablecoin issuers, leading to delistings on EU exchanges.
Germany leads in CASP approvals with six licensed providers, followed by Malta with five.

📎 Related coverage from: cryptoslate.com

Related Tags: Bitcoin EthereumCircle Markets in Crypto Assets (MiCA)

Other Tags: Tether (USDT), USDC, Patrick Hansen, BBVA, BitPanda, Crypto.com, ESMA, eToro, MoonPay, OKX, Societe Generale

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MiCA’s First 100 Days: Crypto Firms Struggle to Comply

The Markets in Crypto-Assets (MiCA) framework, now in effect for 100 days, has left much of the crypto industry struggling to comply. Only 11 stablecoin issuers and 15 crypto-asset service providers (CASPs) have received authorization, according to data from the European Securities and Markets Authority (ESMA). Without a MiCA license, firms cannot operate across the European Economic Area (EEA), pushing companies to expedite their applications. Notably, no asset-referenced token (ART) issuers have been approved yet, and regulators have received just 25 white papers for non-EMT or ART tokens, including Bitcoin and Ethereum. Italy's CONSOB has already added 15 non-compliant entities to its list, signaling stricter enforcement. Approved stablecoin issuers include Circle (USDC) and Societe Generale, while Tether (USDT) remains absent, leading to delistings in the EU. On the CASP front, major platforms like Crypto.com and OKX are among the 15 authorized providers, with Germany leading in approvals. The slow uptake underscores the crypto industry's ongoing adaptation to MiCA's stringent requirements.

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