Key facts
- BNY Mellon's European subsidiary, BNY SA/NV, has been added to the MiCA register.
- The European Securities and Markets Authority (ESMA) added 15 new crypto-asset service providers (CASPs).
- The update brings the total number of licensed CASPs to 309.
- New additions include four banking institutions and digital asset platforms like BitPay and Coinify.
- Germany and Denmark registered the most new providers, with three each.
BNY Mellon's European subsidiary, BNY SA/NV, has been added to the Markets in Crypto-Assets (MiCA) framework register, marking the third update since the July 1 transitional deadline. The European Securities and Markets Authority (ESMA) added 15 crypto-asset service providers (CASPs) in total, including four banking institutions and several digital asset platforms such as BitPay and Coinify. This brings the total number of licensed CASPs to 309.
Germany and Denmark led the latest additions, each registering three new CASPs. Bulgaria and Latvia followed with two each, while Belgium, Cyprus, Liechtenstein, and the Netherlands added one provider apiece. The German additions included cooperative financial societies and Raiffeisenbank Falkenstein-Wörth.
The ongoing updates to the MiCA register indicate that the framework's implementation is an evolving process as companies complete their licensing procedures across European markets. However, some industry executives, like Gate Europe CEO Giovanni Cunti, have expressed concerns that the cost of maintaining a MiCA license could lead to smaller firms exiting the market due to the long-term compliance resource requirements.