ESMA adds 14 new CASPs to MiCA register as licensing slows
The European Securities and Markets Authority (ESMA) has added 14 new crypto companies to the Markets in Crypto-Assets (MiCA) framework register, bringing the total number of licensed crypto-asset service providers (CASPs) to 294.
Intelligence analysis by Llama
ESMA has added 14 new CASPs to the MiCA register, including Ripple Payments Europe, as the licensing pace slows down after an initial surge. The total number of licensed CASPs now stands at 294.
Imagine you have a special kind of money that exists only on computers. This money is called cryptocurrency, and it's like the money in your wallet, but instead of being made of paper, it's made of computer code. The European Securities and Markets Authority (ESMA) is like a referee that makes sure this special money is used fairly and safely. Recently, ESMA added 14 new companies to its list of approved cryptocurrency providers, which means they can now offer their services to people in Europe. This is a big deal because it shows that more and more traditional banks and financial institutions are getting involved in the world of cryptocurrency.
Analysis
A $60B Vote of Confidence
The European Securities and Markets Authority (ESMA) has added 14 new crypto companies to the Markets in Crypto-Assets (MiCA) framework register, bringing the total number of licensed crypto-asset service providers (CASPs) to 294. This update follows ESMA's previous register expansion on July 3, when the regulator added 37 CASPs in the first major post-deadline update after MiCA's transitional period ended.
The new entries include Ripple Payments Europe, the European payments arm of blockchain company Ripple, as well as Portugal-based Bison Bank and Croatia's state-owned bank, Hrvatska poštanska banka (HPB). The update also included Liechtenstein-based Kaiser Partner Privatbank, expanding the presence of private banking groups offering regulated crypto services under MiCA.
Several newly added companies highlight the continued entry of traditional financial institutions into Europe's regulated crypto market. In addition to Bison Bank and HPB, the MiCA register added two cooperative banks from Germany, namely Volksbank Schwarzwald-Donau-Neckar and Raiffeisenbank Auerbach-Freihung. The update also included Liechtenstein-based Kaiser Partner Privatbank, expanding the presence of private banking groups offering regulated crypto services under MiCA.
The register counts dozens of traditional finance institutions, including Spain's BBVA and CaixaBank, Germany's Commerzbank, France's CACEIS Bank and Standard Chartered Luxembourg. EMT and ART registers remain unchanged ESMA reported no changes to its registers for electronic money tokens (EMTs), a category of crypto-assets designed to maintain a stable value against a single official currency, or asset-referenced tokens (ARTs), which are linked to multiple assets such as currencies or commodities.
As of the latest update, the EMT register counted 21 unique issuers, while the ART register continued to list no approved issuers. Related: MiCA licensing only the beginning as crypto custodians face scrutiny The regulator also added two entities to its non-compliant register following actions by Italy's securities regulator, the Commissione Nazionale per le Società e la Borsa (CONSOB). The new additions were Reversal Investment Group and Kortex, bringing the total number of entries on the non-compliant list to 164, including crypto exchange MEXC.
The MiCA register update is significant as it highlights the continued entry of traditional financial institutions into Europe's regulated crypto market, and the growing presence of private banking groups offering regulated crypto services under MiCA. The update also underscores the importance of regulatory clarity and the need for continued innovation in the crypto space.
Why Cursor?
The MiCA register update is a significant development in the European crypto market, and it highlights the growing presence of traditional financial institutions in the space. The update also underscores the importance of regulatory clarity and the need for continued innovation in the crypto space.
The Road Ahead
The MiCA register update is a significant development in the European crypto market, and it highlights the growing presence of traditional financial institutions in the space. The update also underscores the importance of regulatory clarity and the need for continued innovation in the crypto space. As the European crypto market continues to evolve, it will be interesting to see how the MiCA register update impacts the growth and development of the space.
Key points
- ESMA has added 14 new crypto companies to the MiCA framework register, bringing the total number of licensed CASPs to 294.
- The new entries include Ripple Payments Europe, Bison Bank, and Hrvatska poštanska banka (HPB).
- The update also included Liechtenstein-based Kaiser Partner Privatbank, expanding the presence of private banking groups offering regulated crypto services under MiCA.
- The MiCA register counts dozens of traditional finance institutions, including Spain's BBVA and CaixaBank, Germany's Commerzbank, France's CACEIS Bank and Standard Chartered Luxembourg.
- EMT and ART registers remain unchanged, with 21 unique issuers in the EMT register and no approved issuers in the ART register.
The MiCA register update is a positive development for the European crypto market, as it highlights the growing presence of traditional financial institutions in the space. This could lead to increased investment and innovation in the sector, as well as greater regulatory clarity. However, it's also worth noting that the update may slow down the pace of licensing, which could impact the growth and development of the space.
The MiCA register update may also have a negative impact on the European crypto market, as it could lead to increased regulatory scrutiny and oversight. This could make it more difficult for new companies to enter the space, and could also lead to increased costs and complexity for existing players.
