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MiCA’s First 100 Days: Most Crypto Firms Lag Behind in Authorization
MiCA’s First 100 Days: Most Crypto Firms Lag Behind in Authorization
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One hundred days after the Markets in Crypto-Assets (MiCA) framework took effect, most of the crypto industry is still struggling to meet its compliance requirements. According to data from the European Securities and Markets Authority (ESMA), reported by Circle’s executive Patrick Hansen on April 14, only 11 stablecoin issuers and 15 crypto-asset service providers (CASPs) have received authorization. This low number underscores the ongoing challenges faced by the sector. Hansen emphasized that without a MiCA license, crypto firms cannot offer their services across the 30 countries in the European Economic Area (EEA), prompting companies to expedite their licensing efforts. Notably, no asset-referenced token (ART) issuers have yet been authorized.
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