EU Grants About 230 MiCA Licenses as July Transition Deadline Nears

The European Union's transition period under the Markets in Crypto-Assets Regulation (MiCA) is nearing its end, with roughly 230 crypto firms already authorized, CoinDesk reported. Once the remaining transitional arrangements expire starting in July, companies without a MiCA license will no longer be able to serve EU customers and will have to shut down operations or wind down their business. The current approvals cover only a fraction of the market. The 230 licenses account for a small share of the more than 1,200 crypto companies that were previously registered and operating across EU member states. Germany has issued the most authorizations so far at 56, followed by the Netherlands with 26 and France with 21. MiCA is the EU's first bloc-wide rulebook for digital assets, setting a single regulatory standard for exchanges, brokers and wallet providers. Once authorized, firms can offer services across all 27 member states under a unified framework. Smaller firms appear to be under greater strain. Industry sources cited by CoinDesk estimate that about 40% of previously registered crypto service providers in France have yet to apply for a MiCA license. Some have pulled applications, some have shifted toward partnerships with licensed firms, and others are preparing to leave the market.