Key facts
- Germany's number of authorized crypto asset service providers (CASPs) under the EU's MiCA regulation has increased to 79.
- Six German cooperative banks were added in the latest update to the European Securities and Markets Authority (ESMA) MiCA register.
- Germany leads with 79 CASPs, followed by France (35) and the Netherlands (29).
- Germany's large financial sector and pre-existing licensing regime contributed to its high number of authorizations.
- The registers for asset-referenced tokens and non-compliant entities remained unchanged.
Germany has further solidified its leading position in the European Union's crypto asset market by expanding its number of authorized crypto asset service providers (CASPs) under the Markets in Crypto-Assets Regulation (MiCA). The latest update to the European Securities and Markets Authority (ESMA) register on Friday included six German cooperative banks, bringing Germany's total to 79 authorized entities.
This expansion places Germany significantly ahead of other EU member states, with France currently having 35 authorized CASPs and the Netherlands following with 29. Germany's lead has grown substantially since late June, when it already held the top spot with 57 authorizations.
According to Germany's Federal Financial Supervisory Authority (BaFin), the high number of MiCA authorizations in the country is attributed to its extensive financial sector, the eligibility of numerous credit institutions to offer crypto services, and a streamlined authorization process for some CASPs transitioning from Germany's pre-existing national licensing regime.
The ESMA register's datasets for asset-referenced tokens (ARTs) and non-compliant entities remained unchanged, with the ART register still empty, the electronic money token (EMT) register holding 43 entries, and the non-compliant entity list at 167.