The European Union has issued around 230 licenses under its Markets in Crypto-Assets (MiCA) framework, with Germany, the Netherlands, and France leading approvals. The new rules are reshaping the crypto industry, as many smaller firms have not applied for licenses, while others have withdrawn applications, sought partnerships, or planned to close. The framework is strengthening regulatory oversight but raising concerns about reduced market diversity. Regulators and industry participants will continue monitoring MiCA’s impact as adoption expands.
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