Key Points
• European regulators issued a final wave of MiCA licenses as the EU’s transitional period officially ended on July 1.
• Italy, France, Malta and Spain approved several new crypto firms during the final days before the deadline.
• The European Securities and Markets Authority (ESMA) now lists 244 authorized Crypto-Asset Service Providers (CASPs) across the EU and European Economic Area.
• Binance remains without a MiCA license, while exchanges including OKX, Coinbase, Bybit, Crypto.com, Gate and Bitstamp are among the largest authorized platforms.
Europe Completes MiCA Transition
The European Union has officially completed its transition to the Markets in Crypto-Assets Regulation (MiCA), with regulators approving a final wave of cryptocurrency companies just before the new licensing regime became fully effective.
Wednesday marked the end of MiCA’s 18-month transitional period, requiring crypto businesses serving customers across the European Union and European Economic Area (EEA) to obtain authorization as Crypto-Asset Service Providers (CASPs) or begin winding down unauthorized operations.
The final approvals significantly expanded the number of licensed firms operating under the bloc’s unified regulatory framework.
Italy and France Approve New Crypto Firms
Italy added four new licensed CASPs during the final week of the transition.
The Bank of Italy announced that asset management platform Hodlie, cryptocurrency exchange Young Platform, trading platform CryptoSmart and digital asset service provider Hercle received authorization following joint approval by the Bank of Italy and financial regulator Consob.
The new approvals increased Italy’s total number of licensed CASPs to eight.
France also expanded its regulated crypto sector as the Autorité des marchés financiers (AMF) approved three additional firms, including investment platform Mereau Finance, blockchain infrastructure provider Iceblock and crypto service company Aplo.
The approvals raised France’s total number of MiCA-authorized crypto companies to 31, reinforcing its position as one of Europe’s leading digital asset markets.
Additional Licenses Across Europe
Other European jurisdictions also finalized approvals before the deadline.
Digital asset prime broker FalconX announced that it secured its MiCA authorization through Malta, while cryptocurrency platform Venga confirmed it received authorization from Spanish regulators.
These approvals reflect regulators’ efforts to complete licensing reviews before MiCA became fully enforceable across the European market.
According to the latest interim register published by the European Securities and Markets Authority (ESMA), 244 Crypto-Asset Service Providers are now authorized across the European Union and European Economic Area.
Binance Still Awaits Authorization
Despite being the world’s largest cryptocurrency exchange by trading volume, Binance has not yet secured MiCA authorization.
The company previously applied for a license through Greece but later withdrew its application, indicating it intends to pursue authorization through another EU member state.
Greece remains among the countries that have not yet issued any MiCA licenses.
Without authorization, Binance faces restrictions on expanding services within the European Union until it obtains regulatory approval.
ESMA Orders Unauthorized Firms to Wind Down
Ahead of the deadline, ESMA instructed cryptocurrency companies that failed to obtain authorization to take immediate steps toward winding down their European operations.
The directive underscores regulators’ commitment to ensuring that only licensed firms continue serving customers under the new framework.
MiCA establishes standardized rules governing licensing, consumer protection, market conduct, reserve requirements and operational standards throughout the European crypto market, replacing the patchwork of national regulatory regimes that previously existed.
Licensed Exchanges Gain Competitive Advantage
With Binance still outside the MiCA framework, several major exchanges have strengthened their competitive position within Europe.
Based on spot order-book liquidity, the largest MiCA-authorized exchanges now include OKX, Coinbase, Bybit, Crypto.com, Gate and Bitstamp.
Their regulatory approval allows them to continue operating throughout the EU under a single licensing regime, providing greater certainty for both institutional and retail investors.
Outlook
The conclusion of MiCA’s transitional period marks one of the most significant regulatory milestones in the history of the European cryptocurrency industry. With hundreds of firms now operating under a unified framework, Europe has established one of the world’s most comprehensive digital asset regulatory systems. The new regime is expected to enhance investor protection while providing licensed crypto businesses with a clearer pathway for cross-border expansion throughout the European market.
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